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Florida & Gulf Coast  + South Florida  + Retail  | 

JLL Brokers Sale of 85K-SF Grocery-Anchored Retail Center in Naples

JLL has arranged the sale of Mission Hill Shopping Center, a fully-leased, 85,078-square-foot neighborhood shopping center in Naples. The sales price was not disclosed.

Built in 2005, the shopping center was renovated in 2018 and is occupied by a tenant roster that includes Winn-Dixie along with 17 service-oriented tenants. The center is situated on more than 18 acres at 7550 Mission Hills Dr. at a high-traffic, 17-lane signalized intersection with a combined traffic count of 67,500 cars per day.

Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller, Phillips Edison & Co., in the transaction. The buyer was Slate Grocery REIT.

“Winn-Dixie has been one of the success stories navigating through the global pandemic and has seen their credit rating improve and balance sheet become stronger, all as a result of increased sales revenue and reduced debt,” said Peterson. “Further, they have been actively renovating the stores in their portfolio, which includes an extensive renovation to their store at Mission Hills in Naples in 2018.”

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JLL’s Peterson

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Acquisition
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