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Florida & Gulf Coast  + North Florida  + Retail  |  August 26, 2019
David Cohen
By: David Cohen

KPR Acquires Jacksonville Shopping Center for $18M

New York-based real estate investment company KPR has acquired Bolton Plaza, a 174,037-square-foot retail shopping center in Jacksonville. The sales price was $18 million.

Located at 661 Blanding Blvd. in Jacksonville’s Orange Park suburb, the 18-acre center is anchored by big box tenants Academy Sports and Outdoor, LA Fitness, Marshalls and Aldi. The shopping center was originally developed in 1988, and redeveloped and expanded between 2015 and 2017. In addition to the anchor tenants, the center features a Cato Fashions as well as 13,860 square feet of outparcel space occupied by Panera Bread, AT&T, Sport Clips and Little Caesars. The shopping center was 99% occupied at time of sale.

Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, Indianapolis-based REIT Kite Realty. Chris Lentz and Jason Hochman of Cushman & Wakefield’s Equity, Debt & Structured Finance Team secured acquisition financing for KPR through Synovus Bank.

For comments, questions or concerns, please contact David Cohen

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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.
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