HFF closes $22.5 million sale of Publix at Sunrise in Fort Lauderdale market
MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $22.5 million sale of Publix at Sunrise, a 44,840-square-foot, single-tenant, net-leased Publix Supermarket in Fort Lauderdale, Florida.
HFF marketed the property on behalf of the seller, Stiles Corporation. Publix Super Markets, Inc. purchased the asset free and clear of existing debt.
Completed in 2004, Publix at Sunrise is situated on 3.48 acres at 1415 East Sunrise Boulevard in Fort Lauderdale, the second largest city in South Florida. There are 61,566 households with an average annual income of more than $71,000 living within a three-mile radius, and the property is situated on Sunrise Boulevard, which has an average traffic count of more than 110,000 vehicles per day. Publix at Sunrise is 2.5 miles from Interstate 95 and approximately one mile north of Fort Lauderdale’s Central Business District.
The HFF team representing the seller was led by senior managing director Daniel Finkle, managing director Luis Castillo and associate director Nat Scarmazzi.
Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles’ services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. Headquartered in Fort Lauderdale, Florida, Stiles also maintains regional offices in Miami, Palm Beach, Fort Myers, Tampa and Orlando, Florida, as well as Charlotte, North Carolina. Stiles is responsible for more than 43 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit www.stiles.com or call 954-627-9300.
About Publix Super Markets, Inc.
Publix Super Markets, Inc. was founded in 1930 in Winter Haven, Florida, by George W. Jenkins. The company is now the largest employee-owned grocery chain in the United States and one of the 10 largest-volume supermarket chains in the country. Publix retail sales volume reached $30.6 billion in 2014 and the company employs over 168,500 people. Publix Super Markets, Inc. has 1,101 store locations, 8 distribution centers and 10 manufacturing facilities. The company primarily operates in the Southeastern United States.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.