North Jacksonville Retail Center Changes Hands

Five Points Plaza. Image courtesy of Colliers International

T.J. of Nassau Inc. has sold Five Points Plaza, a 31,800-square-foot shopping center in Fernandina Beach, Fla., for $5.4 million. Colliers International assisted the seller, while Skinner Bros. Realty Co. represented the buyer in the deal.

Situated at 808-822 Sadler Road, the three-building property is 2.5 miles south of city center, adjacent to State Road A1A. The 2004-built Five Points Plaza is in a high-density retail trade area that also includes Island Walk Shopping Center, FedEx and Pet Supermarket. The Dollar Tree-anchored shopping center was approximately 90 percent leased at the time of sale. Beach Diner and Coldstone Creamery are also among the tenants of the property.

A Colliers’ Northeast Florida team has been handling leasing management at the property since 2014 and will continue to do so. Colliers’ Matt Entriken and Robert Selton negotiated the deal on behalf of the seller. The two brokers have been busy in the Jacksonville, Fla., area. Recently, they were part of the team that assisted the landlord in the lease negotiations for almost 40,000 square feet at an office park in the Southside submarket.