Consolidated-Tomoka Buys Jacksonville Shopping Center for $63M

"We're familiar with the area and have other assets in the commercial retail corridor there."

By John McCurry | December 11, 2019 at 08:58 AM

JACKSONVILLE, FL—Consolidated-Tomoka Land Co. announced thepurchase of The Strand, an approximately 212,000-square-footshopping center in Jacksonville, Florida for $62.7 million. TheStrand is 95% occupied and has four anchor tenants: Hobby Lobby,Best Buy, 2nd & Charles and the PGA Superstore.

Mark E. Patten, Consolidated-Tomoka's SVP and CFO, tellsGlobeSt.com that the seller was not disclosed. He describes theproperty as a great value.

Continue Reading for Free

Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
Educational webcasts, white papers, and ebooks from industry thought leaders
Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

NOT FOR REPRINT

Retail

Southeast

1 Here Are the Markets Where New Multifamily Deliveries Should Decrease

2 The Factors Weighing Down Multifamily Rents and Profit Margins

3 Slight Uptick in Unemployment Could Spell Recession

4 These are the Most Affordable Rental Markets in the US

5 Will Fed Inaction Lead to More of the Same for CRE Investors?

GlobeSt. Multifamily Fall 2024
October 15, 2024 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information
Real Estate
GlobeSt. Healthcare Real Estate 2024
December 02, 2024 - Scottsdale

Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare event of the year!
More Information
Consulting
Consulting Best Firms to Work For 2024
September 12, 2024 - New York

Consulting Magazine identifies the best firms to work for in the consulting profession.
More Information

7-Eleven Performance Outpaces Other Credit Tenants

By Patrick Nutt | July 23, 2024

Cap rates for 7-Eleven stores have held steady.

7-Eleven Performance Outpaces Other Credit Tenants

Will Fed Inaction Lead to More of the Same for CRE Investors?

By Brian A. Lee | July 23, 2024

With the cost of capital staying put, buyers and sellers must do more to uncover investment opportunities and open the door to deals.

Will Fed Inaction Lead to More of the Same for CRE Investors?

Manhattan Property Sales Total $2.4B in Q2

By Anthony Russo | July 22, 2024

Some sectors performed better than others.

Manhattan Property Sales Total $2.4B in Q2

Migration Hotspots in a Cool 2024 Market link

White Paper

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Instant Insights /