Florida & Gulf Coast CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Fairway Investment Grabs New Publix-Anchored Shopping Center in Lutz
Birmingham, Alabama-based Fairway Investments has purchased Livingston Market Place, a 64,441-square-foot, Publix-anchored shopping center located in the Tampa submarket of Lutz, FL. The 2022-completed property is fully occupied.
Bryan Belk and John Tennant of Franklin Street brokered the transaction on behalf both the seller-developer, 29:11 County Line, LLC (a partnership between Dunphy Development and Batson-Cook Development) and the buyer. Fairway Investments, which focuses on the acquisition of stabilized, operating properties, plans to hold the asset long-term.
“Despite the headwinds of slower transaction volume brought on by rising interest rates, this deal demonstrates that well-located, grocery-anchored shopping centers remain one of the most attractive investment opportunities in the market,” said Tennant.
“Livingston Market Place was perfectly suited for its location in a high-growth submarket and exceptional anchor in Publix, which is projected to see extremely high sales due to limited grocer competition in the trade area,” added Belk.
