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Business Observer Friday, Oct. 2, 2020 11 months ago

Canadian investor buys Publix-anchored center for $7.1M

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Town & Country Plaza was last sold in 2013 for $1.52 million.

PORT CHARLOTTE — A Canadian investor has acquired Town & Country Plaza, a 55,160-square foot Publix-anchored retail center in Port Charlotte, for $7.1 million.

The buyer of the center, at 4265 Tamiami Trail, is Bayshore Village US Inc., Charlotte County records show, which is managed by Stephen Briggs of Ontario, Canada, according to Florida Department of State records. The seller is Buckeye Properties LLC, based in Fort Lauderdale, which bought the plaza in 2013 for $1.52 million, according to the Charlotte County Property Appraiser.

Jim Shiebler, James Garner and James Medefind, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, according to a statement. 

“Through our proven marketing process and blanketed exposure, we built a market and high level of demand for the asset, generated numerous offers and created a true competitive environment,” Shiebler says in the statement. This transactional timeline did not unfold without its challenges, particularly during the inception of the COVID-19 pandemic. This closing required creativity and specific strategic brokerage to ensure both parties achieved their objectives. We ensured that the seller yielded an exceptional price and reached their goals of selling the center at the highest price and transition into multiple single tenant net leased properties. The one element, above all, that achieved this closing was the relentless determination that we demonstrated for the seller to deliver upon our promises to ensure they reached their goals.” 

In addition to Publix, tenants include West Marine, JoAnn Fabrics, Pet Supermarket, Dollar General.

 

 

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