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Tricon Finalizes $9M Purchase of Publix-Anchored Center in Lake Mary
JLL has closed the $8.7-million sale of Lake Mary Pointe, a 51,052-square-foot shopping center anchored by a tenured Publix in the Orlando suburb of Lake Mary, FL.
A JLL team of Brad Peterson, Whitaker Leonhardt and Tommy Isola represented the seller, HS Capital Funds, Inc. Tricon Development of Brevard Incorporated acquired the asset.
“Publix-anchored shopping centers continue to command the highest interest from retail investors, further amplified by properties that have recently undergone extensive capital improvements, including the remodel of its grocery anchor,” noted Peterson.
Lake Mary Pointe underwent extensive renovations in 2021 to update and modernize the property, including roof replacement, painting, parking lot improvements, and landscaping upgrades. The high-performing Publix store was also extensively remodeled.
In addition to Publix Supermarkets, the 98% leased center spans eight acres and has mix of medical, service-oriented and restaurant tenants.
- ◦Sale/Acquisition
