FOR IMMEDIATE RELEASE
October 23, 2002
HARBOR GROUP INTERNATIONAL SELLS
FLORIDA SHOPPING CENTER
Harbor Group International (HGI) of Norfolk,
Virginia has sold the 89,300 square foot Royal Oaks at
Bloomingdale shopping center in Florida’s Tampa Bay
Region. The property was sold to an undisclosed buyer
for an undisclosed price.
The property was purchased in 1998 by HGI from Continental Royal Oaks,
Inc. at a purchase price of $4,600,000. It is currently 97% occupied.
“
Royal Oaks performed exceptional as an asset
and the sale optimized our returns,” said
Jordan E. Slone, Harbor Group International
Chairman and CEO.
The property, situated on 10.96 acres, is located in the high-income
suburb of Brandon, Florida on the northwest corner of Bloomingdale Avenue
and Lithia Pinecrest Road. It was built in 1989 and is anchored
by a Winn Dixie on a long-term lease.
Other tenants include Dollar General, Florida Communications, Inc., AAPEX
Financial Advisors, and Curves Total Fitness. The property has
381 parking spaces and 8 handicapped parking spaces for a parking ratio
of 4.4 per 1,000 square feet.
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