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
We're giving away 3 free ICLV tickets at Connect Now next week. Register and attend live for your chance to win!REGISTER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription