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Tampa Bay Area
Business Observer Friday, Oct. 28, 2011 8 years ago

Publix buys Island Estates Plaza for $8.1 million

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Publix Super Markets Inc. purchased the 50,046-square-foot Island Estates Plaza for $8.1 million.

BUYER: Publix Super Markets Inc., Lakeland

SELLER: DAM Clearwater LLC

PROPERTY: 130 Island Way, Clearwater

PRICE: $8.1 million

PREVIOUS PRICE: $3.5 million, June 1999

LAW FIRM ON DEED: Hill Ward Henderson, Tampa

PLANS, DESCRIPTION: Publix Super Markets Inc. purchased the 50,046-square-foot Island Estates Plaza for $8.1 million.

The price equated to $162 per square foot.

The Publix-anchored neighborhood center occupies a 4.2-acre site between downtown Clearwater and the island of Clearwater Beach. It also houses Bank of America, Wells Fargo and The UPS Store.

Daniel Finkle, Luis Castillo and Robert Saracco of Holliday Fenoglio Fowler LP represented the seller, DAM Clearwater LLC, an entity owned by Southport, Conn.-based private real estate investor David A. Mack Properties LLC.

“Barrier island, grocery-anchored retail center investment opportunities are rarely available in Florida and the opportunity to acquire this fully leased shopping center made Island Estates Plaza a highly sought after investment,” Castillo says in a press release. “Island Estates has a long history of success that will undoubtedly continue under its new ownership.”

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