Cleeman Realty Group facilitates $9.1 million acquisition of Venetia Village Shopping Center in Jacksonville

Jacksonville, FL Cleeman Realty Group negotiated the sale of the 93,925 s/f Venetia Village Shopping Center, a Winn-Dixie anchored retail property located at 5501 Roosevelt Blvd., for $9.1 million.

The 10.1-acre neighborhood shopping center has been a longstanding fixture in the community, having been owned and operated by the same family for more than 40 years. The property is anchored by Winn-Dixie, providing a stable grocery component that continues to serve as a key driver of foot traffic.

Michael Cleeman of Cleeman Realty Group represented the purchaser in the off-market transaction, sourcing the opportunity and guiding the acquisition process to a successful close.

The purchaser was drawn to Venetia Village Shopping Center due to its strategic location within the city market, as well as the opportunity to implement a value-add business plan. Plans include modernizing the property through targeted renovations and enhancing the overall tenant mix, while leveraging the strength of the existing grocery anchor.

“This was a unique opportunity to acquire a well-located, grocery-anchored center with deep roots in the community,” said Cleeman. “The combination of long-term ownership, strong underlying real estate fundamentals, and the ability to reposition the asset made this an extremely compelling investment.”

Cleeman Realty Group continues to demonstrate its expertise in the acquisition and disposition of grocery-anchored shopping centers nationwide, representing clients in both on-market and off-market transactions.