Sleiman Enterprises paid $24.5 million for Lakewood Promenade

Sleiman Enterprises paid $24.5 million for the Lakewood Promenade shopping center, according to deeds recorded Monday with the Duval County Clerk of Courts.

Through General Property Support Inc. as trustee for Lakewood Creekside Land Trust, Sleiman bought the property among four deeds executed May 6.

Jacksonville-based Sleiman Enterprises announced Wednesday it bought the Lakewood Promenade open-air center at the four corners of San Jose and University boulevards.

Indianapolis-based Kite Realty Group Trust sold the property through KRG Lakewood LLC.

The 200,000-square-foot Lakewood Promenade comprises four retail parcels.

Sleiman Enterprises Chief Operating Officer Michael McNaughton said the property was 82 percent occupied in what he calls the dense, affluent and sophisticated Lakewood area.

He said Sleiman Enterprises plans “significant” upgrades.

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