PENSACOLA, Fla. -- Crossman & Company, one of the Southeast’s largest retail leasing, property management and investment sales firms, has negotiated the sale of Pine Forest Shopping Center, a 66,827-square foot retail center in Pensacola, Fla.
Crossman & Company’s Managing Director Brian Carolan represented the Miami based seller during the sale to a private investor in the $1.4 million transaction. The new owner plans to invest significant capital to reposition the property.
The center located at 7859 Pine Forest Road sits on over 9 acres and is the site of a former Food World supermarket. Current tenants include Pinch A Penny and Subway.
“The center received significant interest from developers intent on taking advantage of the site’s visibility along Pine Forest Road and convenient access to Interstate 10,” noted Carolan.
For more information contact Brian Carolan at (407) 581-6242 or bcarolan@crossmanco.com or visit www.crossmanco.com.
About Crossman & Company
Crossman & Company is the premier real estate firm focused on serving retail landlords exclusively throughout the Southeast – with offices in Atlanta, Boca Raton, Tampa, Miami and Orlando – representing more than 385 shopping centers and 28 million square feet in Alabama, Florida, Georgia, Mississippi, North and South Carolina, Tennessee, and Virginia. The company was founded in 1990 with the goal of providing exemplary service to our clients around four core values: Maintain enthusiastically satisfied clients; Demonstrate servant leadership; Practice kindness, openness and humility; and Develop new talent. For more information, visit the company’s website at www.crossmanco.com.