MetLife Purchases 435,000 SF Power Center

HFF has closed the sale of The LOOP, a 434,909-square-foot power center in Kissimmee, for $116.9 million. HFF marketed the property on behalf of AEW Capital Management, L.P. . AEW managed the asset on behalf of one of its institutional clients. Metropolitan Life Insurance Company purchased the asset. The LOOP is located on approximately 57 acres at the northwest corner of the intersection of Osceola Parkway and John Young Parkway. Built in 2005, the 99-percent leased retail center has 43 tenants, including Regal Cinema, Kohl’s, Sports Authority, Michael’s, Petco and CVS. The HFF investment sales team representing the sellers was led by senior managing directors Danny Finkle and Brad Peterson, managing director Luis Castillo and director analyst Kim Flores. “The LOOP is one of Florida’s most successful retail destinations,” Finkle said. “The combination of location, design and tenant performance made The LOOP one of the highest quality retail investment opportunities in the Southeast.” HFF closed the sale of LOOP West, a neighboring 295,100-square-foot retail center, in January.]]>