Consolidated-Tomoka Acquires Strand in Jacksonville for $62.7 Million

by Alex Tostado

Jacksonville, Fla. — Consolidated-Tomoka Land Co. has acquired Strand, a 212,000-square-foot retail center in Jacksonville, for $62.7 million in a 1031 tax exchange. Strand was 95 percent leased at the time of sale to 20 tenants, including four anchors, Hobby Lobby, PGA Superstore, 2nd & Charles and Best Buy. The property is located 12 miles southeast of downtown Jacksonville and adjacent to St. Johns Town Center, home to more than 150 retailers. Colliers International Northeast Florida Inc. will handle leasing efforts on behalf of the new owner. The seller was not disclosed.

You may also like