HFF closes sale of community retail center in Pensacola, Florida
ORLANDO, FL - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Ferry Pass Plaza, a 115,198-square-foot community retail center in Pensacola, Florida.
HFF arranged the sale of the property on behalf of the seller, Phillips Edison & Company. Albanese Cormier Holdings purchased the asset free and clear of existing debt.
Ferry Pass Plaza is situated on a dominant 12.3-acre corner at 8102 North Davis Highway near where it intersects with Interstate 10. North Davis Highway (SR 291) is one of the primary retail corridors in Pensacola with traffic counts exceeding 60,500 cars per day. The center is across the street from West Florida Hospital and less than three miles from the University of West Florida. Anchor tenants of the 96.9-percent-leased center include Ross Dress for Less, Dollar Tree and Dirt Cheap.
The HFF investment sales team representing the seller was led by senior managing director Brad Peterson and associate director Whitaker Leonhardt.
“HFF has been extremely active in the Florida Panhandle and continues to see a healthy amount of interest in the region from investors,” Peterson said. “Ferry Pass Plaza presented a unique opportunity to invest in high-quality real estate in a tightly-concentrated Pensacola submarket with the future opportunity to add value or re-position the asset.”
About Phillips Edison & Company
With a national footprint of retail properties, Phillips Edison & Company has a proven track record to optimize retail property value with its complete operating platform. The company provides a diverse range of retail solutions for investors and retailers looking to maximize their retail investment. It is committed to the success of retailers and has the know-how and determination to help them achieve it. Learn more at www.phillipsedison.com.
About Albanese Cormier Holdings
Albanese Cormier Holdings is a commercial real estate development company currently holding more than three million square feet of strategically placed assets throughout Texas, Louisiana, Mississippi, Colorado, Arkansas, Nevada, Missouri, Tennessee, Kentucky, Kansas, New Mexico, Illinois and Georgia. For more information about Albanese Cormier Holdings or on any other property within the ACH portfolio, please visit www.AlbaneseCormier.com or contact the main office at (409) 892-0200.
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.