March 13, 2020
Colliers International has brokered the sale of Mandarin Central, a 63,346-square-foot shopping center in Jacksonville. The sales price was not disclosed, but the property was originally listed for $9.9 million.
Located at 11018 Old Saint Augustine Rd., the center was constructed in 1985 and was 94% leased at the time of sale to a mix of restaurants and service-oriented tenants. The tenant roster includes Dollar General, Pizza Hut and Salento Steakhouse. Additionally, the center is adjacent to REIT-owned Old St. Augustine Plaza, anchored by Publix and LA Fitness.
Joe Montgomery, Tony D’Ambrosio and Ernie Saltmarsh of Colliers represented the seller, Delray Beach-based Milestone Properties, in the transaction. The buyer was Mandarin Central Plaza LLC.
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