Jacksonville, Fla. – November 12, 2019 – CBRE announced today the sale of Promenade Shopping Center, a 115,000-sq.-ft. shopping center in Jacksonville, Florida. The property sits on almost 29 acres and is anchored by Rowe’s IGA Supermarket, Planet Fitness and the Armed Forces Career Center. Located at 8595 Beach Blvd., the retail center was acquired by Jacksonville-based Hakimian Holdings and is their largest retail acquisition to date.
CBRE’s Scott Rogers and Ryan Hixon represented the seller, Phillips Edison & Company.
“Promenade Shopping Center is anchored by a strong local grocer and is in a central location.
We had outstanding interest from investors across the Southeast,” said Scott Rogers, first vice president at CBRE. “This is the buyer’s second grocery-anchored center acquisition, and it’s taking their portfolio to more than one million square feet.”
Built in 1991, the property is 94 percent occupied and will be rebranded as Gates of The Promenade Shopping Center.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
