Know about market updates

New Jersey-based firm sells Naples shopping center

New Jersey-based firm sells Naples shopping center
The 11-year-old Mission Hills Shopping Center has an upgraded Winn- Dixie supermarket
October 30, 2016 03:00PM

The Mission Hills Shopping Center, 7550 Mission Hills Drive in Naples

The Hampshire Companies, a New Jersey-based real estate investment firm with approximately $2.1 billion in assets, sold an 11-year-old, 97 percent leased shopping center in Naples.
Morristown, New Jersey-based Hampshire sold the 85,078 square-foot Mission Hills Shopping Center, a 19-acre property at 7550 Mission  Hills Drive in Naples, for an undisclosed price.
The New Jersey-based company acquired the Naples shopping center in 2006, the year after it opened in 2005. The new owner is Phillips Edison & Company.
The anchor tenants are Anytime Fitness and Winn-Dixie. The supermarket chain has upgraded its Mission Hills location by making upscale-finish renovations to the store and improving its selection of wine, produce and organic products.
The shopping center has a total of 17 tenants including 11 that have renewed their lease at least once.
More than 3,000 homes are under construction within two miles of the Mission Hills Shopping Center and 1,000 more are planned at nearby sites, according to Hampshire.

Source: The Real Deal

Leave a Reply

Your email address will not be published. Required fields are marked *