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RCG Ventures Releases Pensacola Retail Center Adjacent to Mega Popular Hobby Lobby
An affiliate of Atlanta, GA-based RCG Ventures, LLC, has disposed of Pensacola Square, a 142,767-square-foot shopping center in Pensacola, FL.
Brad Peterson and Whitaker Leonhardt of JLL represented the seller. A private South-FL based family office acquired the asset.
“This is our team’s third shopping center sale in the Florida Panhandle so far in 2022 with a few more in process,” said Peterson. “Many national retailers have well-above average store sales performance and visitor traffic in the region, which translates into a very healthy and stable retail market with rent upside.”
Pensacola Square is 95% occupied. It is anchored by Big Lots, American Freight Outlet, Beall’s Outlet and Petland, and is shadow-anchored by the second most visited Hobby Lobby in the State FL.
The center, which was completed in 1986 and renovated in 1995, sits in what is both the largest MSA and the most infill super regional retail trade area in the FL Panhandle.
- ◦Sale/Acquisition
