Cushman & Wakefield announced that the commercial real estate services firm provided advisory services in the successful disposition of Grove Park Shopping Center, a high-performing, Publix-anchored neighborhood shopping center located in Lakeland, Polk County, Florida.
Originally developed in 1960 by George Jenkins, the founder of Publix, to serve as a model for a new type of shopping center, Grove Park Shopping Center totals 120,150 square feet and is 100% leased. The property features a diverse and seasoned anchor lineup led by Publix, CVS, Dollar Tree and Humanitary Medical Center. Publix’s store was completely rebuilt in 2019, reinforcing the center’s long-term stability and strong income profile.
“Grove Park Shopping Center was originally known as Southgate Shopping Center and was an iconic landmark for its retro styling and was featured in the movie Edward Scissorhands,” said Mark Gilbert, Vice Chair at Cushman & Wakefield in a statement. “Today, it’s known more for its dominant retailers and updated design in the flourishing Lakeland market.”
Located at 1617 U.S. Highway 98 in the heart of Lakeland, the property enjoys proximity to Downtown Lakeland, historic neighborhoods and two colleges, serving as a vital retail hub for the surrounding community.
Mark Gilbert, Adam Feinstein, and Mitchell Halpern of Cushman & Wakefield’s Retail Investment Advisors provided advisory services on behalf of the seller, Longpoint Partners. The buyer is a private entity tied to Daniel Halberstein.
“Grocery-anchored centers with long-term Publix leases continue to attract strong investor demand across Florida,” said Mitchell Halpern, Senior Director, at Cushman & Wakefield. “Grove Park’s exceptional performance, stability, and infill location made this a highly compelling investment opportunity.”
