Tampa, Fla. (March 5, 2014) – RMC Property Group (RMC) is pleased to announce that it has acquired a 60,000 sf shopping center located at the intersection of US Highway 19 and Nebraska Avenue in Palm Harbor, Fla. The center, which is anchored by Office Depot, was purchased for $6.75 million, or $112 per square foot. The center was built in 1997, is situated on 7.39 acres, and is 100% leased to Office Depot.
“The acquisition presented an opportunity to acquire the center at an attractive basis. We are excited by the long term potential of the center given its location and US Highway 19 exposure,” said Bobby Eggleston, chief real estate officer and chief financial officer for RMC.
RMC Real Estate Services, Inc. (RMC)
RMC is one of Florida’s largest and most innovative full-service commercial real estate leasing, management, acquisition, investment sales, development and redevelopment companies. Comprised of companies RMC Property Group and RMC Ross Realty, RMC leases and manages a portfolio of office, industrial and retail properties encompassing over 8 million square feet, has developed more than 140 freestanding drugstores, developed or redeveloped more than 25 Publix-anchored shopping centers, and renovated and redeveloped several other retail and mixed-use properties over the past 15 years. RMC’s extensive development, leasing and management experience clearly provides a competitive edge that is unrivaled and unparalleled.