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ST. PETERSBURG, FL-Cambridge Investors has acquiredtwo retail properties in Florida totaling 242,000 sf.With these acquisitions, the Farmington Hills,MI-based investment company has acquired more than $40million worth of commercial real estate throughoutFlorida, according to CEO Thomas Purther.

The two assets include the 147,000-sf CrosswindsShopping Center in St. Petersburg and the 95,000-sfLandings Shopping Center in Sarasota. CrosswindsShopping Center is fully leased and is anchored by BedBath & Beyond, Marshall’s, Michaels and Sofa Express.Cambridge Investors said in a statement that it plansto “enhance and upgrade the property to take advantageof a strong St. Petersburg market.”

Cambridge Investors purchased the Landings ShoppingCenter in partnership with Southfield, MI-basedSchostak Brothers and Co. Completed in 1988, thecenter is anchored by Jo-Ann Fabrics. It is 96% leasedto a mix of national tenants including Radio Shack,Subway and Oreck Floor Care Center. Additionally, thecenter is shadow-anchored by Albertsons, PetsMart andOffice Depot.

Cambridge Investors focuses on acquiring retail shopping centers and medical office real estate throughout the Midwest and Southeast and concentrates in Florida. The company plans to invest $75 million in commercial real estate during the next 12 months.

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