Katz Properties has acquired a portion of the Oakleaf Town Center in Jacksonville for $35.6 million. The company picked up 315,000 square feet of the 750,000 square-foot shopping center, which was 94 percent leased at the time of the sale. Its tenants include Ross Dress for Less, Big Lots, PetSmart, OfficeMax, A.C. Moore, and a new HomeGoods. Anchors SuperTarget, Home Depot and Kohl’s and several outparcels were not part of the sale. CBRE’s Investment Properties Group exclusively represented the seller, a joint venture between St. Petersburg-based The Sembler Company and Dallas-based Granite Properties.
“Oakleaf Town Center is the dominant retail destination serving one of Jacksonville’s fastest growing trade areas. The property is ideally positioned within the 6,400-acre Oakleaf Plantation, one of the most successful and fastest-growing active planned developments in the nation,” said Dennis Carson, Executive Vice President CBRE. “Moreover, the property was located adjacent to a planned interchange for the under-construction First Coast Expressway, an outer beltway that will connect two major highways and is poised to redefine traffic flow.”
