Miami-based Saglo Development bought its 18th Florida shopping center, a 72,728-square-foot property in Jacksonville.
Saglo bought a Dunn Village, a seven-year-old shopping center in northwest Jacksonville anchored by Family Dollar and Rowe’s IGA Supermarket.
The undisclosed purchase price also includes 28.6 acres of land that could be developed to expand the Jacksonville shopping center, which is located near Interstate 295.
No other shopping centers are located within three miles of Dunn Village, which serves a trade area with a population of more than 15,000 residents.
Saglo now owns Florida shopping centers with a total of 1.5 million square feet and is actively seeking more shopping centers statewide to acquire.
Berkley Capital worked with Saglo’s acquisition team, Hue Chen and Kristina Remington, to broker the purchase of Dunn Village. Saglo got financing for the acquisition from Synovus Bank.