CBRE collaborated with Charles Wayne Properties in sale of 57,318-sq-ft. Ocala North Shopping Center
Ocala, FL – July 28, 2016 – The Ocala North Partnership, LLC, sold the Winn Dixie anchored shopping center at 3435 N. Pine Ave., in Ocala, Florida to Ocala North Property, LLC based out of South America. The Ocala North Shopping Center is a ±57,318 square foot shopping center anchored by a Winn-Dixie grocery store. Other tenants include H&R Block, Hungry Howie’s Pizza, and more. The purchase price was $4,650,000.The seller is an affiliate of Charles Wayne Properties. Daniel Baker of CBRE’s Investment Properties Group in Orlando collaborated with Ted Lightman of Charles Wayne Properties and exclusively represented the Seller. The Buyer was represented by Jose Naftali of Grand Realty of America Corp.
The property has a prominent location at the corner of the two main highways in the Ocala market - US Hwy. 441 and SW 35th Street. It is 97.2% occupied and provides a healthy return on investment to the seller, along with a stable return to the new ownership group.
“This was a strategic sale of a well-located property developed by Charles Wayne Properties, Inc. affiliates in the mid 1990’s. Over the years our group held the asset, the center provided consistently strong cash flow. We decided to explore a sale of the stabilized property and were able to generate a good return to our investors along with solid and predictable cash flow for the new owners,” Lightman said. “Overseas investors like the stability and value of commercial real estate investments in the United States, and Florida is unquestionably one of the hottest U.S. markets for foreign equity. This sale is a true ‘win-win’ for both parties.”
Over the past two years, cross-border capital flows into the U.S. have risen dramatically and in 2015 foreign investment in Florida commercial real estate hit its highest rate in at least nine years, according to a new report by CBRE Group, Inc.
Charles Wayne Properties, Inc. is a diversified commercial real estate firm specializing in the ownership, operation, development and brokerage of assets throughout the Southeastern United States.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
