Preferred Apartment Communities has acquired Berry Town Center, a 99,441-square-foot shopping center anchored by a high-performing Publix grocery store.
PAC made this investment through its wholly owned indirect subsidiary New Market Properties.
Berry Town Center is located in the greater Orlando area five miles southwest of Disney World, Orlando's largest employer. Berry Town Center sits at the intersection of Highway 27 and Sand Mine Road, which sees a high-volume traffic count of over 41,500 CPD.
The asset is PAC’s fourth asset in Orlando and 26th Publix-anchored center, making New Market the fourth-largest Publix landlord in the country.
The acquisition increases the size of PAC’s portfolio to 51 grocery-anchored centers in nine states with 5.75 million square feet, consistent with its strategy to acquire well-positioned grocery-anchored centers in suburban Sunbelt and mid-Atlantic markets with strong demographics that are anchored by market-leading grocers.
