Brandon, FL – July 15, 2014 – CBRE arranged the sale of Kingsway Crossing, a 63,423-square-foot shopping center anchored by a Publix grocery store and located at 1254 Kingsway Road in Brandon, Florida. Publix Grocery Stores, Inc. acquired the property from Valrico Lake Brandon, LP, a private Canadian investment entity, for $8.2 million. CBRE represented the seller.
“The Publix store at Kingsway Crossing is a strong performer and was recently renovated. Kingsway Crossing is a prime example of the type of center that Publix is buying to add to their portfolio of owned shopping centers,” said CBRE Senior Vice President Mark Shellabarger.
Built in 2003, Kingsway Crossing is anchored by a 44,271-square-foot Publix grocery store. The center has a convenient neighborhood location in Brandon, north of State Road 60, and was 90% leased at the time of the sale. Tenants include Great Clips, Metro PCS and Kumon Learning Center.
The CBRE team representing the seller included Mark Shellabarger and Dennis Carson. CBRE also handled the property management and leasing of Kingsway Crossing for the seller.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.