FORGE ANNOUNCES SALE OF GROVE PARK SHOPPING CENTER
MACH II FCP Investments LLC, a joint venture between Forge Capital Partners and Artemis Real Estate Partners, is pleased to announce the sale of Grove Park Shopping Center, a 120,150 square foot grocery anchored shopping center located in Lakeland, Florida.
Grove Park Shopping Center features a strong national tenant lineup that includes Publix Supermarkets, Dollar Tree and CVS Pharmacy. Originally developed in 1960, Grove Park has served the historic Lake Hollingworth neighborhood and south Lakeland sub-market for decades with its strategic location along Bartow Road. Lakeland is home to Publix’s corporate headquarters, and this location was one of the first fifteen stores ever opened by the grocer. In 2019, the original Publix box was demolished and replaced with a new store prototype, demonstrating their commitment to this center and submarket. Ownership purchased the asset in September of 2015 and added value through redeveloping the Publix grocery store, significant capital improvements, and remerchandising the tenant mix. The shopping center was sold to Longpoint Realty Partners out of Boston, MA.
Forge Capital Partners is a diversified, commercial real estate investment and investment management company. Forge has built a strong track record as an acquirer and operator of commercial real estate, specializing in socially responsible projects throughout the Southeast. Since 2000, Forge and its principals have successfully sponsored and managed four real estate oriented, closed-end private equity funds, and executed over a billion dollars in retail and multifamily real estate transactions.
Artemis Real Estate Partners is an investment manager based in metropolitan Washington, DC, with offices in New York City, Los Angeles and Atlanta. Artemis has raised approximately $5.8 billion of capital across core, core plus, value-add and opportunistic strategies. The firm makes equity and debt investments in real estate across the United States, with a focus on multifamily, industrial, office, retail, hospitality, senior housing and medical office. Artemis specializes in joint venture partnerships and direct investments.