Ponte Vedra Beach shopping center sells for $8.4M

A Ponte Vedra Beach shopping center has been sold for $8.4 million, or $200 per square foot.

Dikeou Realty of Maitland purchased the 42,900 square foot Shoppes of Palm Valley, anchored by Publix Supermarkets Inc., from the Sacramento-based California Public Employees Retirement System.

The center was built in 2005.

The Shopping Center Group’s Florida investment sales team — Anthony Blanco,Lenard Williams and Mallory Ham — represented CalPERS and was assisted by two Jacksonville-based leasing associates,Nancy Sumner and Stephanie McCullough.

Regions Bank NA provided a $5.5 million mortgage for the deal.

A Publix-anchored center in St. Augustine sold for $8.9 million, or $145 a square foot, in January.

Original article appeared here