{"id":1004157289,"date":"2016-10-28T05:03:16","date_gmt":"2016-10-28T13:03:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004157289"},"modified":"2021-05-14T21:37:12","modified_gmt":"2021-05-15T05:37:12","slug":"miami-metro-shopping-center-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/miami-metro-shopping-center-changes-hands\/","title":{"rendered":"Miami Metro Shopping Center Changes Hands"},"content":{"rendered":"

By Carmen <\/i>Horghidan<\/i><\/p>\n

\"Mission<\/a>

Mission Hills Shopping Center, Naples, Fla.<\/p><\/div>\n

Naples, Fla.<\/b>\u2014The Hampshire Cos.<\/a> recently sold Mission Hills Shopping Center, a 85,078-square-foot retail center in Naples, to Phillips Edison & Co.<\/a> HFF<\/a>‘s Bradley Peterson, Whitaker Leonhardt and Michael Brewster, represented Hampshire in the transaction. The sale price was undisclosed.<\/p>\n

Mission Hills Shopping Center is located at 7550 Mission Hills Drive and has access to CR 151, with traffic of 54,000 cars per day, and is in close proximity to I-74. The surrounding area of the center is an emerging market with an expected 10 percent growth in population over the next five years. In a two-mile radius, more than 3,000 homes are currently developing and another 1,000 are planned. Additionally, the average household income in a 3-mile radius is $94,327.<\/p>\n

Built in 2005 on a 19-acre parcel, the center is currently 97 percent leased, and anchored by The Winn-Dixie store, which recently underwent renovations, and Anytime Fitness. Out of its 17 tenants, 11 renewed their leases at least once proving the long-term viability of the center.<\/p>\n

\u201cWe acquired the Mission Hills Shopping Center in 2006 and since then have executed our investment strategy and stabilized the asset. We have a strong investment track record and comprehensive strategy for grocery-anchored retail centers in growing markets,\u201d John Goldsmith, portfolio manager with The Hampshire Companies, said in a prepared statement. \u201cPart of that strategy is knowing the right time to sell the asset,\u201d added Igor Derbaremdiker, director of dispositions with The Hampshire Companies. \u201cWith high market demand and premium pricing for grocery-anchored retail product coupled with Naples\u2019 explosive residential growth, now was the right time to sell to optimize the value for this investment.\u201d<\/p>\n

Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Mission Hills Shopping Center is strategically positioned for continued retailer growth and success.<\/p>\n","protected":false},"author":1002,"featured_media":1004157290,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21749],"tags":[],"class_list":["post-1004157289","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-retail"],"acf":[],"yoast_head":"\nMiami Metro Shopping Center Changes Hands - 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\/miami-metro-shopping-center-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Miami Metro Shopping Center Changes Hands\" \/>\n<meta property=\"og:description\" content=\"Mission Hills Shopping Center is strategically positioned for continued retailer growth and success.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/miami-metro-shopping-center-changes-hands\/\" \/>\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=\"2016-10-28T13:03:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T05:37:12+00:00\" \/>\n<meta name=\"author\" content=\"Carmen Horghidan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Mission-Hills-Shopping-Center-Naples-Fla..png\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/miami-metro-shopping-center-changes-hands\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/miami-metro-shopping-center-changes-hands\/\",\"name\":\"Miami Metro Shopping Center Changes Hands - 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