Jacksonville, FL – March 8, 2016 – CBRE arranged the sale of portions of Oakleaf Town Center, a 750,000-square-foot market-dominant, institutional-quality shopping center in Jacksonville, FL. The sold area totaled 315,000 square feet and was acquired by an affiliate of Katz Properties, based in New York City. CBRE’s National Retail Investment Group in Florida, led by Executive Vice Presidents Dennis Carson and Casey Rosen, and Cliff Taylor of CBRE’s Investment Properties Group, exclusively represented the seller, a joint venture between St. Petersburg-based The Sembler Company and Dallas-based Granite Properties.
“Oakleaf Town Center is the dominant retail destination serving one of Jacksonville’s fastest growing trade areas. The property is ideally positioned within the 6,400-acre Oakleaf Plantation, one of the most successful and fastest-growing active planned developments in the nation,” said Dennis Carson. “Moreover, the property was located adjacent to a planned interchange for the under-construction First Coast Expressway, an outer beltway that will connect two major highways and is poised to redefine traffic flow.”
“Oakleaf Town Center is the dominant retail destination serving one of Jacksonville’s fastest growing trade areas. The property is ideally positioned within the 6,400-acre Oakleaf Plantation, one of the most successful and fastest-growing active planned developments in the nation,” said Dennis Carson. “Moreover, the property was located adjacent to a planned interchange for the under-construction First Coast Expressway, an outer beltway that will connect two major highways and is poised to redefine traffic flow.”
Oakleaf Town Center is 94% leased and anchored by Ross Dress for Less, Big Lots, PetSmart, OfficeMax, A.C. Moore, and a new HomeGoods. Anchors SuperTarget, Home Depot and Kohl’s and several outparcels were not part of the sale.
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 strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
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 strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
