Lake Walden Square in Florida sells for $29m

JBL Asset Management bought Lake Walden Square, a 244,529 sq ft, grocery-anchored shopping center in Plant City, Florida, for $29m. The seller, represented by Holliday Fenoglio Fowler, was Retail Value Inc. The property was bought free and clear of existing financing for just over $118 per sq ft. It was 93 percent leased at the time of the sale. Tenants include Winn Dixie, Ross Dress for Less, Marshalls, Michaels, PetSmart, Ulta Beauty, Five Below, Famous Footwear, Amscot Financial, Fantastic Sams, Firehouse Subs and Wasabi Japanese Steakhouse.

“The Tampa MSA continues to be high on the list for Florida retail investors,” said Eric Williams of Holliday Fenoglio Fowler. “The strong surrounding economic demand drivers along the thriving I-4 corridor coupled with a best-in-class anchor lineup and strong tenant sales performance attracted investors to Lake Walden Square.”