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CPAC SELLS HANCOCK VILLAGE SHOPPING CENTER FOR $4.3M

CLERMONT, FLA. — An entity controlled by Continental Properties Acquisition Corp. (CPAC) has sold Hancock Village Shopping Center for $4.3 million. The 25,000-square-foot retail center is located at the intersection of North Hancock Road and State Road 50 in Clermont. The property is nearly 90 percent leased to tenants such as Tijuana Flats, Anytime Fitness, Little Caesars Pizza, Ritter’s Frozen Custard and Direct Auto Insurance. The seller originally purchased the asset in May 2011 for $2.1 million. CPAC selected its affiliate CREC to lease and manage the asset, and CREC brought the property from 50 percent occupancy to nearly 90 percent occupancy. Peter Mekras of CREC represented CPAC in the transaction.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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