Hakimian Holdings Acquires Promenade Shopping Center

JACKSONVILLE, FL—In what is the firm’s largest acquisition deal to date, Hakimian Holdings has acquired the 115,000-square-foot Promenade Shopping Center here.

The locally-based firm purchased the property on nearly 29 acres from Phillips Edison & Co. for $11.95 million, according to a recent report in the Jacksonville Daily Record.

CBRE’s Scott Rogers and Ryan Hixon represented Phillips Edison & Co. in the transaction.

The property at 8595 Beach Blvd. is anchored by Rowe’s IGA Supermarket, Planet Fitness and the Armed Forces Career Center. Built in 1991, the property is 94% occupied and will be rebranded by the new ownership as Gates of The Promenade Shopping Center.

“We had outstanding interest from investors across the Southeast,” says Rogers, first vice president at CBRE. “This is the buyer’s second grocery-anchored center acquisition, and it’s taking their portfolio to more than one million square feet.”