Publix is the neighborhood necessity strip center's anchortenant. Other tenants include Pinch A Penny, State Farm Insurance,Subway, Hair Cuttery, Dry Clean USA and Mailboxes, Etc. Built in2001, the shopping center is 96.6% occupied and has 2,400 sf ofspace available.

Senior director Jim Michalak, a Cushman & Wakefield retailfinancial investment specialist in the company's Tampa, FL, office,represented the sellers in the transaction. "Publix at Laguna Islesis positioned in a high-growth, affluent trade area," Michalak saysin a statement. The average household income in the area is morethan $87,000, and the median housing values are greater than$220,000, he points out. "The asset features a full-line Publixgrocery/pharmacy, rising rental rates and a strong, consistent cashflow.

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