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Ponte Vedra Beach shopping center sells for $8.4M
A Ponte Vedra Beach shopping center has been sold for $8.4 million, or $200 per square foot.
FBP Development PV LLC purchased the 42,900 square foot Shoppes of Palm Valley, anchored by Publix Supermarkets Inc., from the Sacramento-based California Public Employees Retirement System.
The managing member of FBV is another corporation, Palm Valley LLC. The managing member of that corporation is Panayes Dikeou of Denver.
The center was built in 2005.
The Shopping Center Group’s Florida investment sales team — Anthony Blanco, Lenard Williams and Mallory Ham — represented CalPERS and was assisted by two Jacksonville-based leasing associates, Nancy Sumner and Stephanie McCullough.
Regions Bank NA provided a $5.5 million mortgage for the deal.
A Publix-anchored center in St. Augustine sold for $8.9 million, or $145 a square foot, in January.
The original article appeared here