Jacksonville Retail Center Sells for $23M

The Shoppes at Southside. Image via Google Street View

Brixmor Property Group has sold The Shoppes at Southside, a 112,613-square-foot, fully leased retail center in Jacksonville, Fla. CORE Investment Management purchased the asset for $23.3 million through its CORE Investment Properties Fund. JLL represented the seller in the transaction.

The Shoppes at Southside spans across nearly 13 acres at 9930-9990 Southside Blvd., near Interstate 95, State Road 1 and Southside Boulevard, in an area where the car traffic is approximately 209,000 vehicles per day. The property is roughly 14 miles southeast from downtown Jacksonville, adjacent to both the 1.1 million-square-foot Avenues Mall and the 90-acre Gramercy Woods office park.

Anchored by Best Buy, Urban Air Trampoline and Adventure Park, The Shoppes at Southside consists of a main building, a strip building and three separate parcels. Tenants include David’s Bridal, Starbucks and Aspen Dental. The center serves both Duval and St. John counties, catering to a population of more than 53,700 residents living within a 3-mile radius and earning an average annual household income of $91,039.

JLL Senior Managing Director Brad Peterson, Senior Director Whitaker Leonhardt and Director Michael Brewster assisted the seller in the deal. Leonhardt was also part of the team that represented the seller in the recent sale of a 393,387-square-foot retail center in Ocala, Fla.