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CTO-News
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CTO Realty Growth Sells Madison Yards for $73.3M
CTO Realty Growth announced the sale of Madison Yards, a 163,000-square-foot grocery-anchored shopping center in Atlanta, Georgia for $73.3M, representing a price of $451 per square foot.
CTO Realty Growth Acquires Palms Crossing for $81.6M
CTO Realty Growth announced the acquisition of Palms Crossing, an open-air retail center consisting of 399,000 square feet for a purchase price of $81.6M. Palms Crossing is currently 98% leased, anchored by Best Buy, Hobby Lobby, Burlington Coat Factory, Barnes & Noble and Nike. The Property is located on 47 acres in McAllen, Texas with a population of approximately 200,000 within a five-mile radius. Additionally, the Property features two pad sites situated on approximately six acres representing future development opportunities.
CTO Realty Secures 10-Year Lease with National Retailer, Achieving 100% Occupancy
CTO Realty Growth announced that the company has signed an anchor lease with an investment-grade national retailer at Marketplace at Seminole Towne Center, located in Orlando, Florida. This new lease for 48,000 square feet will consolidate 34,000 square feet formerly occupied by Big Lots, 9,000 square feet of small shop space and 5,000 square feet of new expansion space. The initial term of the lease is 10 years and the tenant is expected to open in early 2027. The Center now has 100% leased occupancy with the execution of this lease.
CTO Realty Growth Sells Shops at Legacy North for $78M
CTO Realty Growth announced the sale of the Shops at Legacy North, a 243,000-square-foot mixed-use lifestyle center in Dallas, Texas. The property was sold for $78M, equating to $321 per square foot. The company intends to utilize the net proceeds as part of a Section 1031 like-kind exchange, retroactively funding the Pompano Citi Centre acquisition, with remaining proceeds earmarked for future acquisitions.
CTO Realty Growth Acquires Pompano Citi Centre for $65.2 Million
CTO Realty Growth announced the acquisition of Pompano Citi Centre, an open-air retail center located on 35 acres in the Pompano Beach submarket of Fort Lauderdale, Florida, for a purchase price of $65.2 million. "This acquisition expands our Florida footprint and marks our first entry into the Fort Lauderdale market," said John P. Albright, President and Chief Executive Officer of CTO Realty Growth. "We see an attractive opportunity to create long-term value through strategic mark-to-market rent opportunities and incremental leasing. Further, this transaction is accretive to an anticipated property disposition and brings the year-to-date investment volume to $149.9 million."
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