X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(For more retail coverage, click GlobeSt.com/RETAIL.)

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

The two assets include the 147,000-sf Crosswinds Shopping Center in St. Petersburg and the 95,000-sf Landings Shopping Center in Sarasota. Crosswinds Shopping Center is fully leased and is anchored by Bed Bath & Beyond, Marshall’s, Michaels and Sofa Express. Cambridge Investors says in a statement that it plans to “enhance and upgrade the property to take advantage of a strong St. Petersburg market.”

Cambridge Investors purchased the Landings Shopping Center in partnership with Southfield, MI-based Schostak Brothers and Co. Completed in 1988, the center is anchored by Jo-Ann Fabrics. It is 96% leased to a mix of national tenants including Radio Shack, Subway and Oreck Floor Care Center. Additionally, the center is shadow-anchored by Albertsons, PetsMart and Office 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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join 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
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.