Acquisitions

FORT LAUDERDALE, FLA. — Miami-based Gazit Horizons Inc. has purchased Galt Ocean Marketplace, a 105,589-square-foot shopping center situated on a linear 8.6-acre site along A1A in Fort Lauderdale. The seller, an affiliate of a joint venture between Evergreen Investment Advisors and Kitson & Partners, sold the grocery-anchored property for $35.4 million. Casey Rosen, Dennis Carson, Sriram Rajan and Michael Etemad of CBRE represented the seller in the transaction. Galt Ocean Marketplace was 96 percent leased at the time of sale to tenants including Winn-Dixie, CVS, Holy Cross Hospital, McDonald’s, Flagstar Bank and Sherwin-Williams, among others.

LEESBURG, FLA. — Don McMinn and Andrew Koriwchak of Marcus & Millichap’s Taylor McMinn Retail Group in Atlanta have brokered the sale of a single-tenant retail property located at 27417 US Highway 27 in Leesburg, about 45 miles northwest of Orlando. Built on 1.1 acres in 2002, the property was leased to Heartland Dental, which operates the 4,296-square-foot building as South Leesburg Dental Care. The dental practice recently opened at the property, which is an outparcel to a Winn-Dixie grocery store. Heartland Dental has a 10-year corporate lease at the property with rent increases and extension options. McMinn and Koriwchak represented the seller, a Florida-based developer, in the transaction. The locally based buyer purchased the property for an undisclosed amount in an all-cash transaction. “Investor demand for single-tenant medical properties remains strong, driven by the stability of the healthcare sector and quality of the locations,” says McMinn. “We are currently marketing additional Heartland Dental properties in Cape Coral, Fla., and McDonough, Ga.”