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Florida & Gulf Coast  + Central Florida  + Retail  | 
Close up of Winn Dixie branded building facace

Northpath Investments Acquires $10M Winn-Dixie Anchored Center in Daytona Beach

Northpath Investments has acquired the Holly Hill Plaza shopping center in Daytona Beach, FL for $10.3 million. The 87% occupied, 116,096-square-foot complex is anchored by Winn-Dixie Supermarket as well as other national retailers such as Rent-A-Center, The Hertz Corporation, T-Mobile and Goodwill.

Michael Cleeman represented the seller, a local company that owned the property for many years.

Winn-Dixie, a subsidiary of Southeastern Grocers, recently executed a long-term extension and is remodeling their store as part of the agreement. Northpath will be replacing the parking lot as part of its’ value-add strategy for the center in conjunction with Winn-Dixie’s store remodel.

“We are bullish on the Florida market and are looking to expand our portfolio in the region,” said Gershon Alexander, principal of Northpath. “This shopping center presented us an opportunity to enter the market through an asset class that we are very familiar with and know how to maximize value. We believe this center has a lot of upside as well as the Florida market in general.”

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Inside The Story

Northpath Investments’ Alexander

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
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