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Florida & Gulf Coast  + Gulf Coast  + Retail  | 
RCG Ventures LLC has sold the Village Oaks shopping center in Pensacola, FL for $16 million.

RCG Ventures Sells Fully Leased Retail Center in Pensacola for $16M

JLL has closed the $16-million sale of Village Oaks, a 166,245-square-foot retail center with national anchors in Pensacola, FL.

Brad Peterson and Whitaker Leonhardt with JLL represented seller, an affiliate of Atlanta, GA-based RCG Ventures, LLC. A South FL-based family office acquired the asset.

The fully leased Village Oaks is anchored by Bealls, PetSmart, Planet Fitness and Party City, which together account for nearly 73% of the property’s gross leasable area.

 Village Oaks is situated on 15.3 acres within the largest MSA in the FL Panhandle and proximate to the world’s largest concentration of aviation, aerospace and defense assets.

“Retail stores in the FL Panhandle tend to outperform many other markets because of the combined impact of stable economic drivers, fly-to and drive-to tourism, plus a substantially larger customer drawing radius since the major concentrations of retail shopping centers tend to be spread out,” said Leonhardt.


Inside The Story

JLL's Leonhardt

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.