Phillips Edison & Co. has sold Barclay Place, an 84,899-square-foot, Save-a-Lot-anchored retail center in Lakeland, Fla.
A private shopping center investor with a strong track record for acquiring and owning similar properties purchased the asset for undisclosed sales price.
Barclay Place is anchored by Save-a-Lot, the second-largest discount grocer in the United States. The 96.6-percent-leased center is also home to Dollar General, Wild Greg’s Saloon, Bob’s Carpet Mart, Great Rooms, Liberty Tax Service, Enterprise Rent-A-Car, Jet’s Pizza and Greenberg Dental & Orthodontics. The center first opened in 1973, with the most recent renovations in 2017.
Positioned on 7.1 acres at 4825-4997 U.S. Highway 98, Barclay Place has the only Save-a-Lot location north of Interstate 4. The center also serves a growing trade area anticipated to add 7.8 percent to its current population of 66,139 residents within a three-mile radius before 2025.
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