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Institutional Property Advisors Brokers Grocery-Anchored Shopping Center Sale for $12.1 Million
Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of Southwood Shops. The 107,697-square-foot Winn-Dixie-anchored shopping center in Bradenton, FL traded for $12.1 million.
“Currently 100-percent occupied, Southwood Shops has been anchored by a successful grocery store for more than 40 years,” said Kirk D. Olson, IPA senior director. Olson, and IPA’s Drew A. Kristol represented the seller, Bradwood Shopping Center Company LTD. Olson and Kristol procured the buyer, Southwood Shops LLC. The buyer is a Miami-based partnership between Heritage Square Pompano Beach LLC and Lake Hills Plaza LLC.
The shopping center was built in 1981 on 15 acres at the intersection of 14th St. and 57th Ave. A nearby First Horizon Bank, Truist Bank and Chevron gas station drive additional traffic to the center. State College of Florida Bradenton, with an enrollment of over 11,000 students, is one mile away.

