{"id":1004051832,"date":"2012-07-23T19:55:06","date_gmt":"2012-07-24T03:55:06","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=58242"},"modified":"2020-04-10T05:24:10","modified_gmt":"2020-04-10T13:24:10","slug":"saxon-crossing-trades-for-21m-pollack-shores-buys-396-unit-community-for-nearly-24m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/saxon-crossing-trades-for-21m-pollack-shores-buys-396-unit-community-for-nearly-24m\/","title":{"rendered":"Saxon Crossing Trades for $21M; Pollack Shores Buys 396-Unit Community for Nearly $24M"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Georgiana Mihaila, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">The recently completed Saxon Crossings\u2014a 119,894-square-foot shopping center in Orange County\u2014was acquired by Inland Real Estate Acquisitions for approximately $20.73 million. The property, currently 100 percent leased with Hobby Lobby as the anchor tenant, is also home to LA Fitness, Papa John\u2019s and Jimmy John\u2019s.<\/p>\n<p style=\"text-align: justify\">Lou Quilici, senior vice president of Inland Real Estate Acquisitions, facilitated the transaction on behalf of Inland Diversified Real Estate Trust, Inc.<\/p>\n<p style=\"text-align: justify\">\u201cSaxon Crossing is situated at a primary commercial intersection that includes Target and Home Depot, drawing approximately 57,000 vehicles a day from the nearby towns of Deltona and Orange City,\u201d Quilici said. \u201cThe shopping center is also well-positioned to benefit from the Stetson University student population, located nine miles from the property. We believe that this high-traffic location and strong line-up of tenants combine to make Saxon Crossing a strong acquisition.\u201d<\/p>\n<p style=\"text-align: justify\">Inland Real Estate Acquisitions\u2014the purchasing arm for various entities that are a part of The Inland Real Estate Group of Companies, Inc.\u2014has made the purchase on behalf of Inland Diversified Real Estate Trust, a public, non-listed real estate investment trust that focuses on acquiring and developing a diversified portfolio of commercial real estate.<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/07\/heather-glen.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-58243\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/07\/heather-glen.jpg\" alt=\"\" width=\"300\" height=\"225\" \/><\/a><\/p>\n<p style=\"text-align: justify\">Another notable Orlando acquisition has been made by Pollack Shores Real Estate Group; the company has closed on the $23.6 million purchase of the 396-unit Heather Glen apartment community, located on University Boulevard\u2014less than two miles away from the University of Central Florida, one of the largest and fastest-growing universities in the nation.<\/p>\n<p style=\"text-align: justify\">The community, 95 percent occupied at the time of the purchase, will be managed by a subsidiary of Pollack Shores. The company has also announced plans of investing an additional $1.5 million to renovate and upgrade the pool area, clubhouse, fitness center, and landscaping. The renovation work is meant to attract UCF students and grow the profile of the apartment community among students and young professionals.<\/p>\n<p style=\"text-align: justify\"><em>Image via ForRent.com<\/em><\/p>\n<p style=\"text-align: justify\">For more market data on Orlando, <a href=\"https:\/\/www.multihousingnews.com\/market-data\/market-snapshot-vacancy-in-orlando-falls-to-lowest-level-in-six-years-new-development-stagnates\/1004057787.html\" target=\"_blank\" rel=\"nofollow\"><strong>click here<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The recently completed Saxon Crossings&mdash;a 119,894-square-foot shopping center in Orange County&mdash;was acquired by Inland Real Estate Acquisitions for approximately $20.73 million. The property, currently 100 percent leased with Hobby Lobby as the anchor tenant, is also home to LA Fitness, Papa John&rsquo;s and Jimmy John&rsquo;s.<\/p>\n","protected":false},"author":1269,"featured_media":1004506929,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1493],"tags":[1815,39399],"class_list":["post-1004051832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-orlando","tag-national","tag-orlando"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Saxon Crossing Trades for $21M; Pollack Shores Buys 396-Unit Community for Nearly $24M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/saxon-crossing-trades-for-21m-pollack-shores-buys-396-unit-community-for-nearly-24m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saxon Crossing Trades for $21M; Pollack Shores Buys 396-Unit Community for Nearly $24M\" \/>\n<meta property=\"og:description\" content=\"The recently completed Saxon Crossings&mdash;a 119,894-square-foot shopping center in Orange County&mdash;was acquired by Inland Real Estate Acquisitions for approximately $20.73 million. The property, currently 100 percent leased with Hobby Lobby as the anchor tenant, is also home to LA Fitness, Papa John&rsquo;s and Jimmy John&rsquo;s.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/saxon-crossing-trades-for-21m-pollack-shores-buys-396-unit-community-for-nearly-24m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-07-24T03:55:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-10T13:24:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/heather-glen.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/saxon-crossing-trades-for-21m-pollack-shores-buys-396-unit-community-for-nearly-24m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/saxon-crossing-trades-for-21m-pollack-shores-buys-396-unit-community-for-nearly-24m\\\/\"},\"author\":{\"name\":\"the Editors of Commercial Property Executive\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1b82b91678533ae5d40e3240086a42bb\"},\"headline\":\"Saxon Crossing Trades for $21M; 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