Florida

GAINESVILLE, FLA. — Prudent Growth Partners LLC, a private equity firm based in Chapel Hill, N.C., has purchased SouthGate Centre, a 24,025-square-foot retail center in Gainesville. The undisclosed seller sold the property for approximately $5.2 million. Built in 1989 within 1.5 miles from the University of Florida, SouthGate Centre was leased to 13 lifestyle and service retailers at the time of sale.

LAKE WORTH, FLA. — Principal Asset Management has sold Pinewood Square Shopping Center, a 204,000-square-foot retail center in Lake Worth, roughly 35 miles north of Fort Lauderdale. Situated on the southeast corner of Lantana and Jog roads, the property was 99 percent leased at the time of sale to 42 tenants including T.J. Maxx/HomeGoods, Ross Dress For Less, Five Below, Goodwill and Delray Medical Center. There are also six additional outparcel buildings that are leased to Chase Bank, PNC Bank, AutoZone, Outback Steakhouse, La Granja and Jiffy Lube. Mark Gilbert, Adam Feinstein and Mitch Halpern of Cushman & Wakefield’s Miami office represented Principal Asset Management in the transaction. The buyer and sales price were not disclosed.

ORLANDO, FLA. — Core Investment Management (CORE) has acquired Dellagio Town Center, a 109,489-square-foot retail center in Orlando, for $37.5 million. Located along the Dr. Phillips retail corridor, the multi-tenant center features 30 different brands including AdventHealth Medical Group, Nola’s Ice Cream, Fleming’s Prime Steakhouse & Wine Bar, Fred Astaire Dance Studios and Fifth Third Bank. CORE plans to enhance the property with an improved tenant mix and aesthetic renovations.