The Real Deal Miami

Publix-anchored center sells in Parkland

January 17, 2012 11:15AM

Parkland Commons

The Publix-anchored Parkland Commons shopping center has been sold, according to Cushman & Wakefield’s Southeast Capital Markets Group, which represented seller Quality Properties Asset Management, a Bank of America affiliate, in the deal. The 89,469-square-foot center, which was built in 2008, was 57 percent leased at the time of sale. The deal also included an undeveloped 3.4-acre parcel located nearby. “We received strong bidding for Parkland Commons given the presence of Publix, Parkland’s excellent demographics and the significant upside that can be realized over time through the leasing of the vacant shop space and development of the parcel,” said Mark Gilbert, executive vice president at Cushman & Wakefield. Terms of the deal were not disclosed. — Alexander Britell