Jacksonville-based Regency Centers Corp. sold the Fort Caroline Trading Post shopping center in Arlington to IMC Equity Group for $3.5 million.
It is the first Jacksonville acquisition for North Miami-based IMC Equity Group, said Chief Investment Officer Carlos Segrera.
The 81,000-square-foot center was developed in 1984 on 8.1 acres at 6060 Fort Caroline Road, at Peeler Road.
Segrera said the center, anchored by a Winn-Dixie supermarket, is fully leased.
The deed was executed March 22. The Duval County Property Appraiser assessed the property at $4.65 million in 2017.
Regency acquired the property through its purchase of Equity One. The Trading Post seller was Equity One (Portfolio) LLC.
Equity One paid $3.2 million for the property in 1994.
Segrera said IMC Equity Group plans to continue running the property and keeping it in good condition.
He said IMC Equity Group invested in the property because of an attractive 15 percent CAP rate because of fear that Winn-Dixie would not stay. He said that it will.
Southeastern Grocers, the parent of Winn-Dixie, is closing 94 stores as a part of a bankruptcy agreement.