Just Sold- Intracoastal Center (Publix Anchored)

The Colliers International Northeast Florida Investment Services Team just sold Intracoastal Center, a multitenant retail shopping center anchored by Publix Supermarkets, located at the south-east quadrant of San Pablo Road and Beach Boulevard in Jacksonville, Florida. The 155,899 SF shopping center got its name due to its location just west of the Intracoastal Waterway. Other tenants within the center include Planet Fitness, Publix Liquors, Greenberg Dental, H&R Block and a Fifth Third Bank (outparcel). In addition to the retail tenancy, there is also a large medical component, with medical tenants accounting for about 41% of the space, including Family Care Partners, Precision Imaging, DaVita Dialysis and Heartland Rehab.

Colliers International Northeast Florida’s team of Scott Rogers, SIOR, CCIM, Ronald McVay and Ernie Saltmarsh IV exclusively represented the seller, a private local individual, and found the buyer, a New York based family in a 1031 tax-deferred exchange. The buyer plans on an extensive renovation of the center, including the roofs, parking lots, signage and facade. Publix has also submitted plans for the proposed $750,000 renovation of their 62,000 SF store. This is the third Publix anchored shopping center that the Colliers Investment Services Team has sold in the past 8 months.

Karen Brune Mathis with the Daily Record covered the story.

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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 March 31, 2016, in Commercial, JAX Daily Record, sale, Shopping Centers/Retailers, Transactions and tagged , , . Bookmark the permalink. Leave a comment.

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