Buchanan Partners sells part of Heritage Hunt development to Elion Partners for Harris Teeter-anchored retail center.
By: Michael Neibauer, Washington Business Journal
Elion Partners, a Florida-based real estate investment firm, has closed on its purchase of a 68,865-square-foot parcel from Buchanan in Gainesville's Heritage Hunt community, the firm announced. The purchase price was not disclosed.
“Our investment strategy focuses on market fundamentals and relationships with established local firms,” Juan DeAngulo, managing principal of Elion Partners, said in a statement. “This retail development brings essential amenities to Heritage Hunt and the booming area around it. The project is an ideal fit for our approach and our portfolio.”
Elion and Buchanan, master developer of the 100-acre Heritage Hunt mixed-use project, will jointly develop the new retail center, to include a Harris Teeter and three out parcels zoned for restaurants, banks and convenience stores.
The center will be located at Catharpin Road and Heathcote Boulevard, just north of Interstate 66, in the active-adult community.
In November, Elion made its first Washington-area purchase, the 42,906-square-foot Goshen Plaza in Gaithersburg.