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South Florida

Sarasota retail center sells for $11.6M

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The Publix of Northridge retail center has sold for $11.6 million in Sarasota, according to HFF, which marketed the property on behalf of the seller, a joint venture led by Kimco Realty Corporation. The buyer was Phillips Edison-ARC Shopping Center, a real estate investment trust. The 65,320-square-foot property is anchored by a Publix, which occupies 44,840 square feet. It is currently 84 percent occupied by seven tenants. HFF’s team was led by senior managing directors Danny Finkle and Brad Peterson, director Luis Castillo and analyst Kim Flores. – Alexander Britell

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