HFF closes sale of Winn Dixie and Kmart-anchored retail center in West Palm Beach

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Printer-friendly versionPrinter-friendly version  MIAMI, FL - June 30, 2014 – HFF announced today that it has closed the sale of Cross County Plaza, a 357,537-square-foot, grocery-anchored retail center in West Palm Beach, Florida. HFF represented the seller, Kimco Realty Corp. in the transaction. Alliance Private Capital Group, LLC purchased the asset free and clear of existing debt. Cross County Plaza is located at 4340 Okeechobee Boulevard close to Interstate 95, The Florida Turnpike, downtown West Palm Beach and the Palm Beach Lakes office submarket. Completed in 1998, the property is 99.4 percent leased to tenants including Winn Dixie, Kmart, Madrag, Ross Dress for Less, David’s Bridal and Party City. The HFF investment sales team representing the seller was led by senior managing directors Danny Finkle and Brad Peterson and managing director Luis Castillo. Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North America’s largest publicly traded portfolio of neighborhood and community shopping centers. As of March 31, 2014, the company owned interests in 835 shopping centers comprising 122 million square feet of leasable space across 42 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisition, development and management for more than 50 years. For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty. Alliance Private Capital Group LLC is a national commercial real estate capital intermediary firm that was formed in 2004 to serve the needs of investors, developers, commercial real estate brokers and other real estate professionals in the area of commercial real estate finance. Since its inception, the firm has originated and closed in excess of $3.5 billion of commercial real estate financing throughout the U.S. and Canada. HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter at twitter.com/hff.
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