GAINESVILLE,
Fla. --
Crossman & Company, one of the Southeast’s largest retail leasing, property
management and investment sales firms, has negotiated the sale of University
Towne Center, an 18,496-square foot shopping center at 3345 SW 34th St. in
Gainesville, Fla.
Crossman & Company
Managing Director Brian Carolan and Senior Managing Director Bruce Lyons represented
the seller, a special servicer located in South Florida, in the $2.8 million transaction.
University Towne Center is 65 percent leased and sits on 1.7 acres.
Crossman & Company has
built a solid track record of connecting investment sales clients with
qualified and sellers and buyers. University Towne Center is no exception.
“University Towne Center is
located on the southeast corner of SW34th Street and Archer Road, a hub of retail
activity in the city,” noted Carolan. “Close to Shands, the sprawling
university campus and thousands of residential units, the center sits in the
busiest retail corridor in Gainesville with proximity to Butler Plaza’s
additional major retail, dining and entertainment tenants.
The buyer, Pacific West Land
of Bainbridge Island, Wash., employs a low-leverage approach, taking a patient
and structured approach toward maximizing value.
Founded in 1981, Pacific West
Land strategies have included purchasing and zoning land for sale, developing
residential and commercial properties, and acquiring and repositioning
distressed commercial assets. They have
acquired and managed over 100 properties located in markets such as Southern
California, Denver, Las Vegas, Phoenix, Atlanta, and Florida.
Serving Florida, Georgia,
Alabama, Tennessee, South Carolina, North Carolina and Virginia with offices in
Atlanta, Boca Raton, Tampa, Miami and Orlando, Crossman & Company has
experience selling shopping centers, triple-net assets, as well as mixed-use
and lifestyle properties.
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 340 shopping centers
and 27.1 million square feet in Florida, Georgia, Alabama, Tennessee, South
Carolina and North Carolina. 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.