Plaza Advisors Announces Sale of The Shops at Verandah in Fort Myers, FL

TAMPA, FL--Plaza Advisors is pleased to announce the sale of the Shops at Verandah (top left photo) in Fort Myers, Florida.

The shopping center is situated at the intersection of Palm Beach Boulevard (SR 80) and SR 31 and totals 72,795 square feet of gross leasable area.

The grocery anchored asset features Publix, Beef ‘O’ Brady’s, Pinch a Penny, Allstate, H&R Block, and separately owned freestanding; Regions Bank, Exxon Mobil, and Wachovia/Wells Fargo.

 The asset was constructed in 2006. The property was 92% leased at the time of sale.

 Plaza Advisors represented the buyer in the transaction and co-managing partners Jim Michalak (top right photo)  and Anthony Blanco (middle left photo), together with Senior Financial Analyst, Lenard Williams (lower right photo)  were involved in the engagement. The seller was not represented by a broker.

The seller and buyer were The Shops at Verandah, Ltd. and CR South, respectively. 

The sale of the Shops at Verandah marks the third Publix anchored center sold by Plaza Advisors over the past four months and the eighth retail transaction in 2010.

Contacts:

Jim Michalak, Tampa Office, 813-837-1300, Fax: 813-831-2627

Jim.michalak@plazadvisors.com

 Anthony Blanco, Miami Office: Fax: 305-647-6441, 305-629-3606,                                                                                                                           

Anthony.blanco@plazadvisors.com