The Real Deal Miami

PB Gardens firm buys Jacksonville shopping center

American Commercial Realty acquired a Publix-anchored property called Highland Square

July 10, 2016 03:00PM

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Publix-anchored Highland Square shopping center in Jacksonville

The Publix-anchored Highland Square shopping center in Jacksonville

Palm Beach Gardens-based American Commercial Realty Corp. (ACR) acquired a Publix-anchored shopping center in Jacksonville for an undisclosed price.

The Highland Square shopping center is located along Interstate 95 at Dunn Avenue in north Jacksonville and has more than 277,000 square feet of rentable space.

Besides Publix, the tenants at Highland Square include Bealls Outlet, CVS, Family Dollar and Publix.

Last year, both Publix and Bealls renovated their stores at the Jacksonville shopping center.

“There are vacancies at the center, but they were primarily the result of macro situations,” Rick Baer, president of ACR, said in a press release. Office Depot, for example, has vacated their space at Highland Square. “Our team sees these as opportunities and has already begun the process of identifying prospective users. They are finding considerable interest.”