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

MIAMI-A partnership between Weingarten Realty Investors of Houston and AEW Capital Management of Boston has taken ownership to two adjacent retail centers in Port Charlotte. The separate deals total $25.6 million.

Locally based Blackrock Retail Property Advisors brokered the deals on behalf of the two sellers, Alliant Partners of Tampa and Paradise Development Group of Safety Harbor. The retail properties involved in the simultaneous transactions are the Quesada Commons and Shoppes of Port Charlotte (SOPC).

The newly constructed centers make up a combined 99,901 sf and feature a Publix and a Petco. Publix is located in the Quesada Commons, which was developed by Alliant, and Petco is located in SOPC, which was developed by Paradise, according to Nikolas Kozy, of Blackrock Retail Property Advisors. He brokered the deal with Dennis Carson. Kozy tells GlobeSt.com that, going forward, the new owners will view the centers as one property.

The retail centers stand at the intersection of US Highway 41 and Toledo Blade Boulevard in the center of Port Charlotte. The Publix at Quesada opened in 2005, but the smaller shops opened this year, Kozy says. In addition, SOPC was completed this year. SOPC is 100% preleased and Quesada is 90% leased.

Kozy tells GlobeSt.com that “not many deals are trading in that area of Florida,” adding that the combined property went for a low-6% cap rate.

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

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

Get More Information


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 © 2024 ALM Global, LLC. All Rights Reserved.