750,000 SF Retail Center In West Melbourne Trades For $78.5 Million

Hammock Landing, a large-format retail center in West Melbourne located on the north side of Palm Bay Rd NE, has sold for $78.5 million.

The 750,000-square-foot shopping destination is located along Florida’s Space Coast and features a broad lineup of national retailers, restaurants and service providers. Tenants include Marshalls, HomeGoods, Ross Dress for Less, Academy Sports + Outdoors, Petco, Buffalo Wild Wings, AT&T, Ulta Beauty and SunTrust Bank. Target and Kohl’s also serve as shadow anchors for the property.

The center was developed in phases, with the first portion completed in 2009 and the second delivered in 2014.

Atlantic Capital Partners arranged the transaction on behalf of the seller, a joint venture between CBL Properties and The Benchmark Group. The Atlantic Capital Partners team included Justin Smith, Sam Koonce, Dean Sands, Chris Peterson, Fred Victor and Matt Ericson.

The buyer was not disclosed.

Source:  RE Business