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Gainesville center sold for $2.8 million


University Towne Center in Gainesville, Florida, has been sold at auction to Pacific West Land for $2.8 million. Crossman & Company negotiated the deal on behalf of the seller, a south Florida special servicer.

The 18,496-sq.-ft. center is close to the University of Florida campus and to Butler’s sprawling retail complex, which is itself expanding with a town center called The Neighborhoods at Butler.

A flurry of retail activity in this crossroads town in north-central Florida includes Celebration Pointe, a mixed-use project which last week hosted the opening of an 82,000-sq.-ft Bass Pro Shop that attracted approximately 50,000 people over a four-day period, according to project developer RaCo.

University Towne Center is currently only 65% leased. Tenants include Earth Fare, Carrabba’s Italian Grill, and Wharf Express.

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