Atlanta, GA (October 27, 2021) -- Jamestown, a global, design-focused real estate investment and management firm, today announced it sold its 70% interest in a portfolio of six Publix-anchored shopping centers to Kimco Realty Corp. The portfolio includes six shopping centers in South Florida and Atlanta totaling 1.22 million square feet.
“We entered the portfolio as part of a macro strategy of investing in grocery-anchored shopping centers in the southeast U.S.,” said Michael Phillips, President of Jamestown. “We enjoyed a great partnership with Weingarten Realty Investors on this portfolio for many years and continue to be active in the grocery-anchored retail space throughout the Sun Belt.”
Jamestown entered the portfolio in 2009 amid the Great Recession as part of a joint venture with Weingarten Realty Investors. In August 2021, Weingarten Realty Investors merged with Kimco Realty Corp., which now owns the portfolio outright.
The portfolio is 96.6% leased with each center anchored by Publix. The portfolio includes five properties in South Florida: Flamingo Pines Shopping Center at 12550 Pines Blvd. and Pembroke Commons at 600 N. University Dr. in Pembroke Pines; Hollywood Hills Plaza I and II at 3251 Hollywood Blvd. in Hollywood; Northridge Shopping Center at 1002 E. Commercial Blvd. in Oakland Park (Fort Lauderdale MSA); and Tamiami Trail Shops at 13850 SW 8th St. in Miami. The portfolio also includes Publix at Princeton Lakes at 3730 Carmia Dr. SW in Atlanta.
While known for its large, mixed-use developments and adaptive reuse projects, Jamestown also specializes in neighborhood-focused, grocery-anchored shopping centers. Jamestown continues to own and operate a significant portfolio of grocery-anchored shopping centers that includes seven centers in Georgia and South Florida totaling 1.05 million square feet.
Jamestown has a long-term ownership and management perspective and is recognized throughout the world as a community-focused, sustainable real estate firm. In 2020, Jamestown committed to reaching net zero carbon emissions portfolio-wide by 2050.
JLL represented Jamestown in the transaction.
About Jamestown
Jamestown is a global, design-focused real estate investment and management firm with a 38-year track record and mission to create places that inspire. Since its founding in 1983, Jamestown has executed transactions in excess of $35 billion. As of September 30, 2021, Jamestown has assets under management of $13.1 billion and a portfolio spanning key markets throughout the U.S., Latin America, and Europe. Jamestown employs more than 400 people worldwide with headquarters in Atlanta and Cologne, and offices in Amsterdam, Bogotá, Boston, London, Los Angeles, Madrid, Milan, New York, San Francisco, and Washington, D.C. Current and previous projects include One Times Square and Chelsea Market in New York, Industry City in Brooklyn, Ponce City Market in Atlanta, Ghirardelli Square in San Francisco, the Innovation and Design Building in Boston, and Groot Handelsgebouw in Rotterdam. For more information, visit www.jamestownlp.com.
