TAMPA, FL—Granada Plaza, a 74,200-square-foot grocery-anchored retail center in Dunedin, FL, fetched $10.8 million. H&R REIT purchased the retail asset from Odyssey DP I, LLC, an entity affiliated with Lakeland, FL-based Odyssey Diversified Properties.

HFF senior managing director Danny Finkle and director Luis Castillo represented the seller. In total, HFF has closed 19 retail center transactions in 2012.

“Granada Plaza is one of the highest-volume Publix-anchored centers in the Tampa MSA,” Finkle tells GlobeSt.com. “The opportunity to acquire an established grocery-anchored center in a densely populated market is increasingly rare and should make for an excellent investment for H&R REIT.”

Granada Plaza sits on a 6.92-acre site at 1491-1575 Main Street at the intersection of State Road 580 and County Road 1, northwest of Tampa in Dunedin. The retail property was renovated in 2004 and is 86% leased to tenants including Publix, Curves, UPS Store, Hair Cuttery, and Firehouse Subs. H&R REIT is assuming exiting life insurance company financing.

Odyssey develops, leases and manages retail projects, from small strips to large neighborhood centers with national tenants such as Publix, Marshalls, Save-A-Lot, Starbucks and Bealls. Launched in 2004, Odyssey focuses on Florida, Georgia, Alabama, and the Carolinas.

H&R REIT is an open-ended real estate investment trust, which owns a North American portfolio of 41 office, 118 industrial and 133 retail properties that span more than 44 million square feet and three development projects. The REIT's portfolio is valued at about $9.7 billion.