Consolidated-Tomoka Land Acquires Strand Shopping Center in Jacksonville for $62.7M

JACKSONVILLE, FLA. — Consolidated-Tomoka Land Co. has acquired The Strand, a 212,000-square-foot retail center in Jacksonville, for $62.7 million in a 1031 tax exchange. The Strand was 95 percent leased at the time of sale to 20 tenants, including four anchors: Hobby Lobby, PGA Superstore, 2nd & Charles and Best Buy. The property is located at 1401 Riverplace Blvd., 12 miles southeast of downtown Jacksonville and adjacent to St. Johns Town Center, home to more than 150 retailers. Colliers International’s Northeast Florida office will handle leasing efforts on behalf of the new owner. The seller was not disclosed.