Jacksonville-based Hakimian Holdings has dropped $5.7 million on a Winn-Dixie anchored shopping center in Brunswick, Georgia, the company announced Thursday, tightening its grip on coastal Georgia retail just off Interstate 95. The buyer says the property will be rebranded as Gates of Brunswick West and that Winn-Dixie is staying put under a new long-term lease.
Hakimian said it paid $5.7 million for the roughly 76,000-square-foot center on about 9.21 acres at 5420 New Jesup Highway, west of I-95. The center, previously known as Brunswick West and built in 1974, will now operate under the Gates branding, as reported by Jax Daily Record. The deal pushes the Jacksonville firm deeper into coastal Georgia retail markets.
Property metrics and listing notes
Commercial listing data pegs the center at about 77,485 square feet on roughly 9.34 acres and notes a 2003 renovation. Broker materials also call out a recent 10-year lease extension for Winn-Dixie that runs through 2034. The marketing package leans hard on heavy traffic counts and proximity to the Golden Isles, features investors routinely point to when sizing up coastal retail, per LoopNet.
What the buyer says
Blake Hakimian, head of acquisitions and finance, said Winn-Dixie has logged “multiple consecutive years of strong sales growth at this location” and that sales jumped 17 percent last year. He told the Jax Daily Record the purchase “quadruples Hakimian Holding’s footprint in Georgia” and stretches the company’s portfolio farther up the East Coast.
Company footprint
On its website, Hakimian Holdings outlines a portfolio of retail and office centers that runs from Daytona Beach to Kingsland and highlights Camden Corners in Kingsland as one of its Georgia holdings. That property, the company notes, is anchored by a 26,000-square-foot Aldi and was renovated in recent years, underscoring Hakimian’s focus on grocery-anchored centers.
Tenants and local market
National chains share space at Brunswick West. Dollar Tree lists a store at 5420 New Jesup Highway, and local business listings show Jackson Hewitt at the plaza. The classic combo of a grocery anchor flanked by value and service tenants tracks with the trade area around I-95, which brokers say supports steady shopper traffic. That regional backdrop shows up clearly in the property’s marketing materials and traffic counts…