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Columbus Pacific acquires lifestyle retail center in Florida
Transactions - OCTOBER 4, 2019

Columbus Pacific acquires lifestyle retail center in Florida

by Released

Columbus Pacific has purchased the Market Street at Heath Brook, a 393,387-square-foot, regionally dominant, mixed-use lifestyle/entertainment village with office space in the Orlando-area community of Ocala, Fla.

The sales price was $39.75 million.

The seller was not disclosed.

“Market Street at Heath Brook has undergone an amazing transformation the past few years with the addition of numerous best-in-class retailers and restaurants,” said Danny Finkle, co-head of HFF’s retail practice, which represented the seller. “The recent leasing momentum and market dominant position within a vast trade area make this a fabulous acquisition for the Columbus Pacific team.”

Anchored by Dick’s Sporting Goods, Marshalls (opening in October), HomeGoods, Barnes & Noble, DSW, Old Navy, and Ulta Beauty, Market Street at Heath Brook is also home to Panera Bread, Orangetheory Fitness and Ocala Eye along with more than 70,000 square feet of office space and a Dillard’s shadow anchor. The center was constructed in 2008 and is currently being expanded with the addition of a shadow 12-screen Epic Theaters entertainment component scheduled to open in December. Additionally, the sale includes more than 60,000 square feet of available space and excess land for future development. Situated on 55.1 acres at 4414 SW College Road, the center is in Ocala, the “Horse Capital of the World” and a rapidly growing Central Florida destination approximately 80 miles northwest of Orlando. Market Street at Heath Brook is the only major retail hub within a 30-mile radius and is located on the main retail thoroughfare in the trade area, which includes about 258,000 residents.

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