Ormond Beach, Fla. — ShopOne Centers REIT Inc. has acquired The Trails Shopping Center, a 135,286-square-foot shopping center in Ormond Beach, a city on Florida’s east coast.
Sabal Financial Group LP - Slate Trails Holdings LLC sold the asset for $21.9 million. Richard Chichester, Donald MacLellan and Shaun Riley of Faris Lee Investments arranged the transaction on behalf of ShopOne. A 36,866-square-foot Publix anchors the center, which was 77 percent leased at the time of sale. Additional tenants at the center include Talbot’s, Chico’s, LOFT, Dairy Queen, Anytime Fitness, White House-Black Market, BurgerIM and Supercuts.