By Robert Demeter
Orlando—HFF has closed the sale of Publix at St. Cloud, a 78,779-square-foot community shopping center anchored by Publix, the company announced recently. The asset is located in St. Cloud, Fla., in the Orlando metropolitan area.
HFF marketed the property on behalf of the seller, Kite Realty Group Trust. The retail center was purchased free and clear of financing. The team representing the seller was led by Senior Managing Director and Co-head of HFF’s retail practice Daniel Finkle, senior managing directors Brad Peterson and Jim Hamilton and Director Eric Williams.
Publix at St. Cloud is situated on 9.1 acres and fronts Irlo Bronson Memorial Highway, a major thoroughfare servicing the region, as well as Old Canoe Road. In terms of traffic, about 58,000 vehicles per day pass the center. In addition to Publix, other tenants include Jersey Mikes, Metro PCS, Party Liquors, Own it Now, The UPS Store, Anthony’s Pizzeria and more.
“Solid-performing Publix-anchored centers remain highly sought after by the investment community,” said Peterson in prepared remarks. “Despite recent movements in interest rates, they still remain one of the best risk-adjusted returns in the market today.”
Photo courtesy of HFF