Pensacola shopping center to receive significant capital redevelopment infusion

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pensacola shopping center

The new owner of Pine Forest Shopping Center in Pensacola plans to invest significant capital to reposition the property, says the real estate broker who arranged the sale.

Crossman & Company managing director Brian Carolan said the 9 acre property sold for $1.4 million. The broker did not identify the purchaser in the news release.

The 66,827 sq. ft. center at 7859 Pine Forest Rd. previously had a Food World supermarket. Current tenants include Pinch A Penny and Subway.

“The center received significant interest from developers intent on taking advantage of the site’s visibility along Pine Forest Rd. and convenient access to Interstate 10,” said Carolan.

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