Grocery-Anchored Shopping Center In Lakeland Sells For $9.2M

Marcus & Millichap closed on the sale of Eastside Village, a 76,264-square-foot retail property located at 2630 US Highway 92 E in Lakeland.

The 6.78-acre lot sold for $9,200,000.

Drew A. Kristol and Kirk D. Olson, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, Miami-based CF Properties. The buyer was a Miami-based private investor.

“We received multiple offers for Eastside Village, which underscores the high demand in today’s market for well-located grocery-anchored shopping centers throughout Florida,” said Olson, senior vice president of investments.

Eastside Village is anchored by Harvey’s Supermarket, one of three brands in addition to Winn-Dixie which are owned and operated by its parent company, Southeastern Grocers. The property is currently 100% occupied, including nationally known retailers Subway and Dollar Tree.

“Eastside Village has been a very solid investment for our group, illustrated by the fact that the property has not seen a vacancy in more than seven years,” added Spencer Freidman, principal at CF Properties.

 

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