Saul Centers Inc., an equity real estate investment trust, acquired two Publix grocery-anchored shopping centers totaling 243,100 square feet in Florida.

The total value of the transactions was approximately $40.7 million.

The company acquired the 96,400-square-foot Jamestown Place, located in Altamonte Springs, a suburb of metropolitan Orlando, for $14.8 million. Jamestown Place, which was constructed in 1986, was 96.4 percent leased at the time of sale and is anchored by a 55,000-square-foot Publix supermarket.

The company also acquired Seabreeze Plaza, a Publix-anchored shopping center in Palm Harbor, near Tampa. Seabreeze Plaza is a 146,700-square-foot neighborhood shopping center built in 1985 and renovated in 2003 with the addition of a 45,000-square-foot Publix supermarket. The company purchased the center for approximately $25.9 million. Seabreeze Plaza was 100 percent leased at the time of sale.

Bethesda, Md.-based Saul Centers currently operates and manages a real estate portfolio of 44 community and neighborhood shopping center and office properties totaling approximately 7.7 million square feet of leasable area.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Connect Now is TODAY! Join top producers as we discuss how to position your business for success in 2021.Click here to register×