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ORLANDO-A group of 12 investors, completing 1031 exchanges, hasacquired the 64,688-sf, 98%-leased Parkway Plaza shopping center at5265 S. John Young Parkway for $10.2 million or $158,20 per sf--oneof the highest per-sf-prices paid for a shopping center here thisyear.
SCI Real Estate Investments of Los Angeles was the leadinvestor. The price represents a 7.25% capitalization rate,according to Scott Derrick, SCI's vice president of acquisitions,who negotiated for the buyers. Jim Michalak in the Tampa office ofCushman & Wakefield of Florida Inc. represented the seller.
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