ORLANDO, Fla.--(BUSINESS WIRE)--

An affiliate of CORE Investment Management (CORE), a Miami-based private investor specializing in retail properties across Florida's primary markets, has announced its acquisition of Cortez Plaza, a 260,000-square-foot retail center anchored by LA Fitness and Sprouts, located in the Sarasota/Bradenton submarket of Florida.

This acquisition reinforces CORE’s strategy of actively pursuing and acquiring assets in primary Florida markets with this acquisition more than doubling their presence in the west coast of Florida. “This purchase is in-line with our focus on value-add opportunities at in key markets with strong in-place yields,” said, Adam Greenberg, Managing Principal.

Cortez Plaza sits at the high-traffic intersection of US-41 and Cortez Boulevard, where more than 100,000 cars pass daily. The center benefits from multiple long-term leased anchors including LA Fitness, Sprouts, and Burlington, along with newly developed outparcels occupied by national brands Chick-fil-A and Starbucks. The surrounding market is undergoing a transformation with the redevelopment of the former 52-acre DeSoto Square Mall site into multiple apartment projects, two of which are already under construction.

CORE’s Florida portfolio includes over 20 high-quality retail centers located across Florida major markets including Orlando, Miami, Jacksonville and Sarasota.

CORE, along with affiliates CPG Leasing & Management, is headquartered in Miami, and owns and operates retail value-add properties in major Florida markets targeting a long-term investment horizon.

For more information about CORE and its portfolio, please visit www.coreIPF.com

About CORE:

CORE is a private investor specializing in retail properties across Florida’s primary MSA markets. Along with its four principals, the company owns and actively manages approximately 2 million square feet of assets throughout the state, with the largest concentration in Orlando. CORE focuses on experience-oriented properties with stable cash flow and significant growth potential through active management, leveraging its expertise and network to focus on high-quality retail value-add opportunities.

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Source: CORE Investment Management