Sales  ·  Retail

Jamestown Acquires Publix-Anchored Tamarac Town Center for $23M

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Jamestown has acquired Tamarac Town Square, its fifth Publix-anchored shopping center in South Florida, for $22.5 million.

The 124,000-square-foot retail center in Tamarac, Fla., between Fort Lauderdale and Boca Raton, was 84 percent leased at the time of the sale, according to the firm. The seller, Regency Centers, has owned the property for close to three decades. 

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Other tenants at Tamarac Town Square include Dollar Tree, Goodwill and Retro Fitness, as well as a lineup of retail and medical services, such as a dry cleaners and barber shop, an urgent care clinic, a podiatry office and a dentist.

While Jamestown is best known for its adaptive reuse projects, such as Industry City in Brooklyn and Ponce City Market in Atlanta, the firm also has a portfolio of grocery-anchored retail centers. 

Its other South Florida centers include Doral Commons, Village Commons in West Palm Beach, Country Club Plaza in Miami Gardens, and Polo Clubs Plaza in Boca Raton, which Jamestown acquired in 2015.  

The Tamarac deal came alongside a second grocery-anchored buy in Sandy Springs, Ga. Jamestown purchased the 160,000-square-foot Fountain Oaks, anchored by Kroger, from Edens.

JLL’s Danny Finkle, Eric Williams, Jorge Portela and Kimberly Flores of the firm’s retail capital markets team represented Regency Centers, the brokerage confirmed. JLL also represented Edens.

Regency Centers did not respond to a request for confirmation.

Chava Gourarie can be reached at cgouarie@commericalobserver.com.