ORLANDO—Publix-anchored shopping centers are all the rage, but that doesn’t mean other grocery stores aren’t attracting investor attention in the quest for income-producing retail. Venice Pines Shopping Center proves the point.

HFF just closed the sale of Venice Pines Shopping Center, a 97,300-square-foot retail center in Venice, Fla., for $10.35 million. HFF senior managing directors Brad Peterson and Doug Hazelbaker marketed the property on behalf of the seller, Weingarten Realty Investors. J.S. Karlton Company Inc. purchased the property free and clear of debt.

“This deal was interesting because Venice Pines is a Sweetbay grocery-anchored center,” Peterson tells GlobeSt.com. “The grand majority of grocery-anchored centers that trade are Publix centers. This sale demonstrates that investors are looking beyond Publix centers when they are seeking high quality grocery-anchored centers in Florida.”

Venice Pines Shopping Center is located at 1254 Jacaranda Boulevard at the intersection of Center Road in Venice. The retail center serves a residential population of approximately 43,000 within a three-mile radius, with a median household income of $68,700.  

“Sweetbay is part of the Delhaize America conglomerate, which has investment-grade credit,” Peterson says. “With this asset, the combination of a seasoned and successful shopping center with a grocery-anchor and offered desirable upside to the investor.”

Peterson says HFF has recently marketed several grocery-anchored centers in Florida including those anchored by Publix, Wal-Mart Neighborhood Market, Winn-Dixie and Sweetbay. The interest level from investors, he says, has been exceptionally strong across the board.