Wilson Square Retail Center Trades for $43/SF – CoStar Group

Wilson Square Trades for $2.7 Million – CoStar Group.

From CoStar:
Gatlin Development Co. acquired the Wilson Square Shopping Center in Jacksonville from Isram Realty & Management Inc. for $2.7 million, or about $43 per square foot.

The 63,487-square-foot shopping center was built in 1987 and is situated on 8.79 acres. The center was 37 percent leased at the time of the sale, with the anchor space sitting vacant since Food Lion moved out in 1st quarter 2012.

Gatlin Development recently executed a 36,000-square-foot lease with Walmart Neighborhood Market, which will see the grocery chain occupy the anchor space by the 4th quarter of this year. The Walmart deal will bring the center to 94 percent occupancy.

About Ernie Saltmarsh

Ernie works for Colliers International in the Northeast Florida Investment Services Group. The team includes Robert Selton, Scott Rogers, Ernie Saltmarsh and Adrienne Miller. Ernie works with buyers who are looking to invest in commercial real estate and sellers who are looking to dispose of investment assets. Ernie's background in research, marketing and finance provide the vital skills necessary to serve his clients.

Posted on May 2, 2014, in Shopping Centers/Retailers, Transactions and tagged , , , . Bookmark the permalink. Leave a comment.

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