Jacksonville-based Hakimian Holdings announced that it bought a Brunswick, Georgia, shopping center May 21 that is becoming Gates of Brunswick West.
The Winn-Dixie Company LLC has signed a lease for another decade at the center, previously called Brunswick West, Hakimian said.
Hakimian Holdings said it paid $5.7 million for the 76,000-square-foot shopping center on 9.21 acres at 5420 New Jesup Highway, west of Interstate 95. It was built in 1974.
Blake Hakimian, head of acquisitions and finance, said the purchase quadruples Hakimian Holding’s footprint in Georgia and stretches the portfolio up the East Coast.
He said Winn-Dixie has experienced “multiple consecutive years of strong sales growth at this location,” and rose 17% last year. The renewed lease will keep the Jacksonville-based grocer serving “what is only becoming an increasingly robust trade area.”
Dollar Tree, Jackson Hewitt and established mom-and-pop stores fill the rest of the center, Hakimian said. He said one unit is available for lease.
He said Hakimian Holdings considers the site “as another great acquisition in our long-term expansion plans to serve more and more parts of this country.”
Winn-Dixie has been refocusing on its stores in Florida and South Georgia, selling other locations.
Hakimian Holdings says it is a private, family-owned commercial real estate acquisition and holding company with 40 properties comprising almost 3 million square feet of retail and office center space.
It says it buys, leases and manages a portfolio of properties from Daytona Beach to Kingsland, Georgia.
In Kingsland, it owns Camden Corners at 1390 Boone Ave. Hakimian says on its website that Camden Corners was built in 1987 on 7.34 acres and recently underwent a renovation.
Camden Corners is anchored by a 26,000-square-foot Aldi store that replaced part of the space of a closed Winn-Dixie.
Blake Hakimian said Kingsland is another rapidly developing part of Georiga.