The seller was Atlanta-based Hendon Group LLC, represented by EdNutting and Michael Hubley of Marcus & Millichap's Atlantaoffice, which marketed and listed the property. David Wells of thefirm's Tampa office represented the buyer, identified only asAcworth Commons LLC.

Wells tells GlobeSt.com that the seller is a developer who seeksto buy a 19-center portfolio and will use the proceeds from AcworthCommons to facilitate that transaction. He adds that the buyer hasacquired $70 million in properties over the past few years, mainlyin Florida. "This deal was attractive to the buyer because itoffers a little higher yield and a better cap rate than propertiesin Florida," he says.

Wells says the deal represents a trend of buyers seekingproperties north of Florida in search of better yields. "Due to theincreasing costs of owning and operating Florida real estate theyare headed out of state to achieve higher returns," he says.