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Hernando Today

Brooksville's Western Way Plaza Sold To Florida Realty Firm

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Hernando Today staff report

Published: March 30, 2009

BROOKSVILLE - One of the county's most recognizable shopping centers is in new hands.

Western Way, the home of Beacon Theatres, the Bealls Outlet and Carrabba's Italian Grill, has been purchased by Isram Realty Holdings, according to a press release from the Hallandale-based firm.

WR Dallas LP sold the 143,000-square-foot plaza for $11.5 million. The shopping center, located at 12961 Cortez Blvd., is also anchored by Save-a-Lot and Dollar General. It was built in 1982 and renovated in 1991.

The plaza is more than 90 percent leased and is considered "a terrific addition to our expanding portfolio of retail properties in Florida," Isram CEO Shai Moschowits said in the release.

Isram formed an alliance with Boca Raton-based Fimiani Development last year to buy shopping centers throughout Florida. Isram currently owns, leases and manages 1.5 million square feet of shopping center space in cities such as Naples, Tampa, Bradenton, and Jacksonville.

"With this area's population averaging 16 percent growth over the next three years, we see this region as an area with tremendous potential," Michael Fimiani of Fimiani Development said in the release.

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