Cleeman Realty Group negotiates off-market sale of a second Rowe’s IGA

Jacksonville, FL Cleeman Realty Group negotiated the sale of a Rowe’s IGA grocery property located at 5435 Blanding Blvd. The 63,950 s/f property is situated on 4.56 acres along Blanding Blvd., a primary retail corridor serving the city’s market. The asset sold for $9.7 million.

Sam Seelenfreund and Morris Ades of Cleeman Realty Group represented both the purchaser and seller. The buyer was attracted to the property’s established grocery tenancy, prominent corridor frontage, and strong underlying real estate fundamentals within a densely populated trade area.

“This transaction further demonstrates the continued demand for well-located, necessity-based grocery assets in high-growth Florida markets,” said Seelenfreund, SVP at Cleeman Realty Group. “Investors remain focused on durable retail properties that generate consistent traffic and long-term income stability.”

Cleeman Realty Group specializes in the sale of retail and net-leased properties across the United States, providing strategic advisory services to investors, developers, and property owners.