Manatee County shopping plaza sold for nearly $40M

An affiliate of a Miami property investment firm specializing in retail has purchased a Manatee County shopping center.

CORE Investment Management says in a statement that Cortez Plaza was sold to an unnamed affiliate. The seller is an LLC tied to Hackney Real Estate Partners of Richmond, Virginia. The purchase price was $39.4 million, Core Investment Management Managing Principal Michael Lapointe says in an email to the Business Observer.

The more than 260,000-square-foot retail center is anchored by LA Fitness and Sprouts at the intersection of US 41 and Cortez Road West, where more than 100,000 cars pass daily, according to a statement.