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Follow on Google News | LandQwest Commercial Reports Sale of $10.8M Shopping CenterDevonshire REIT, Inc., a private real estate investment trust, is proud to announce the acquisition of 12 Oaks Shopping Center in Bradenton, Florida for $10.8M. Tom Strauss and Matt Yaniglos, CRX, CDP, CLS negotiated this transaction for the buyer.
12 Oaks Shopping Center is a 80,499 square foot neighborhood center located at the intersection of State Road 70 (Oneco-Myakka City Road) and I-75 in Bradenton, FL. The center is 100% occupied with a Publix Supermarket as anchor and several other national and regional tenants. The property was updated in 2013 with a new parking lot, lights and landscaping. Allowance for a new roof was included in the purchase price by the seller. Mike Denman, Executive Vice President of Real Estate Operations for Devonshire REIT said, "We are excited to add our first property in Florida, and our first Publix anchored center. Since 2000, Bradenton has grown by over 60% making it one of the fastest growing towns in the US. We believe the 12 Oaks Shopping Center is well suited to take advantage of this and future growth." This acquisition increases Devonshire's total assets under management to $475 million and pushes total GLA past 4.7 million square feet. Devonshire REIT, Inc. is a fully integrated commercial real estate company that owns, operates, and develops dominant shopping centers and necessity properties in the Midwest, Great Lakes and Southeastern regions of the United States. The company's portfolio consists of 54 properties representing over 4.7 million square feet of leasable space. Devonshire REIT is available for investment only through select community bank trust departments and Registered Investment Advisors. Additional information can be found at http://www.devreit.com. With three offices throughout Florida, LandQwest Commercial is recognized nationally as being at the forefront of the commercial real estate brokerage industry. Our associates offer experience and expertise tailored to each client’s needs, desires and investment portfolio. LandQwest Commercial takes great pride in effectively matching clients and projects to fulfill our mission of “Integrity. Experience. Success!” For more information, please visit www.lqwest.com or call 239-275-4922. End
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