Riverview is a submarket east of Tampa with access off ofInterstate 75. Mimms director of marketing Brad Shoemaker tellsGlobeSt.com that the acquisition price was more than $6 million.The company was attracted to the property for acquisition due toits stability and steady income flow, he says. "We have a fewprojects that we are developing, so we were looking for a steadycash flow," Shoemaker says.

This is Mimms' second acquisition in Florida. In 2007, thecompany acquired the Publix-anchored Island Park Shopping Center inFort Myers. Mimms also recently developed and sold a build-to-suitretail property in Jacksonville for American Backyard. In additionto stabilized properties, the company also seeks value-addopportunities. "We've been looking at expanding in the Southeastfor sometime," Shoemaker says. "We will continue to seek propertiesthat meet our acquisition criteria. We like properties that arewithin a day trip for us."

Mimms owns four shopping centers in Tennessee, and numerousproperties throughout Georgia. The company's portfolio totals 6.1million sf with approximately 575 tenants. About 80% of thecompany's portfolio is retail space, with the majority of the restindustrial space.