Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Tradewinds Shopping Center, a 178,557-square-foot retail center with multiple national anchors in Pensacola, Florida.
The HFF team marketed the property on behalf of the seller. Hackney Real Estate Partners purchased the asset free and clear of existing debt.
Tradewinds Shopping Center is 91.8 percent leased to a variety of national and regional tenants, including T.J.Maxx & HomeGoods, Jo-Ann Fabric & Crafts, Shoe Station, Tuesday Morning, Dollar General, Sprint, Massage Envy, GNC and Advanced Dental Care. Situated on 19.2 acres at 6601 North Davis Highway, the center is positioned on the six-lane North Davis Highway (SR 291), which is one of two primary retail corridors in Pensacola, and is visible to more than 33,000 vehicles per day. Additionally, the center is one mile south of the interchange of Interstates 10 and 110. More than 59,900 residents earning an average annual household income of $57,817 live within a three-mile radius of Tradewinds Shopping Center.
The HFF investment advisory team representing the seller included senior managing director Brad Peterson and senior director Whitaker Leonhardt.
“We really love the Florida Panhandle markets and telling Pensacola’s unique market story,” Leonhardt said. “It’s actually one of the strongest markets in Florida from an employment standpoint with a strong military presence, great healthcare providers, numerous college campuses and a dynamic downtown. Tradewinds Shopping Center is a very successful shopping center with great tenants in the heart of Pensacola, and this exciting market story combined with the tenant lineup made this a highly sought-after asset with over 10 strong offers received from a variety of investors.”
About Hackney Real Estate Partners
Hackney Real Estate Partners is a retail property investment, management, leasing and development company that acquires shopping centers through individual partnerships and private funds. The company is committed to working with its individual and institutional partners to create wealth in commercial real estate. Over the past 12 years, Hackney Real Estate Partners has acquired over 50 properties worth more than $310 million and currently manage and lease in excess of four million square feet of retail properties throughout the Mid-Atlantic and Southeast. For more information, visit http://hackneyrealestate.com.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
