TAMPA, FL—You read a lot about Publix- and Winn Dixie-anchoredshopping centers trading. Now, a Whole FoodsMarket Centre is making headlines.

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Consolidated-Tomoka Land acquired the Sarasota,FL Whole Foods Market Centre for $19.1 million. The59,341-square-foot retail center sits on 3.94acres at 1451 First Street in Downtown Sarasota.

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Mike Milano and Ron Schultz ofColliers International Tampa Bay andCynthia Shelton and KaneMorris-Webster of Colliers International CentralFlorida, represented the seller, Casto-ZenithVenture. The multi-tenant retail assetincludes Starbucks and other small shops located on the groundfloor of a condominium development, as well as a freestanding WholeFoods Market.

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“This was a tremendous opportunity to acquire a high-end,mixed-use investment in the heart of Downtown Sarasota, anchored byhighly sought-after Whole Foods Market and Starbucks,” saysSchultz. “The greatest investor demand right now is forgrocery-anchored neighborhood centers, especially WholeFoods-anchored centers.”

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Colliers brokers attribute the success of theretail property to a strong location that supportsa mix of restaurants, high-end retail specialtyshops and the Whole Foods Market. About 500 new residential unitsare expected to come online in this residential market in the next36 to 48 months.

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“Consolidated-Tomoka primarily purchases freestandingnet-leased properties,” says Milano. “However,this center is a unique trophy asset, and the buyer decided theproperty's position and attributes justified a slight departurefrom its typical acquisition criteria.”

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Consolidated could not immediately be reached for comment on thedeal. We will update this story if we receive additionalinformation.

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