A commercial property housing a Truist Bank in The Villages was recently acquired by a multibillion dollar real estate investment firm for $3.189 million.
Located at 2365 Parr Drive between Parr Drive and County Road 466, the 1.61-acre lot was sold by Chico Enterprises to Agree Limited Partnership for $3,189,000 on May 18.
The deed of sale was officially recorded by the Sumter County Property Appraiser’s Office on June 1. Chico Enterprises originally acquired the improved bank property in May 2020 for $2.675 million.
Agree Limited Partnership serves as an operating partnership entity for Agree Realty Corporation (ARC), a publicly traded Real Estate Investment Trust (REIT) that was founded in 1971 by Executive Chairman Richard Agree.
According to its website, ARC commenced operations as a publicly traded REIT in 1994 and has expanded into a $12 billion-plus industry leader specializing in net-leased retail and financial properties.
As of March 31 of this year, the corporation owned and operated a national portfolio of 2,756 properties spanning all 50 states and encompassing approximately 57 million square feet of gross leasable space.
The sale of the Truist Bank site is the latest in a series of high-dollar commercial real estate transactions taking place across The Villages corridor in recent months.
Recently, a 6.91-acre commercial site at US Highway 301 and the Florida Turnpike in Wildwood housing a Comfort Inn and Suites and Lollygaggers Sports Pub & Grill sold for $8.1 million.
That transaction followed a $32.5 million deal in July, in which Publix purchased the commercial parcel it was previously renting in Trailwinds Village alongside two adjacent lots, as well as the $7.275 million sale of the Days Inn by Wyndham on State Road 44 earlier this year.
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