Hankin Group Acquires Tioga Town Center
Company Ownership Has Strong Gainesville Ties
GAINESVILLE, Florida; April 13, 2017 – Hankin Group, developer and manager of distinctive commercial, residential, hospitality and retail properties, today announced the purchase of Tioga Town Center in Newberry, Florida.
Known for its mix of open air shopping, dining, professional tenants, education and luxury apartments, Tioga Town Center has been a fixture in the region since it opened in 2004. The 300,000-sq. ft. community combines the friendly feel of small town America with all the conveniences expected by area residents and visitors to the region.
“We are proud of the Hankin family’s significant, lengthy involvement with the Gainesville community, which makes this an even more meaningful acquisition,” said Hankin Group’s Chief Operating Officer Michael Hankin. “I have fond memories of growing up in the region and two of our partners, Sam and Richard Hankin, are proud UF alumni who developed residential and commercial projects in the region during 1970s and 80s, including Avalon/Weatherstone and the Meridian Office Park.”
Hankin Group is committed to the principles of town planning and walkable, mixed use development and was an early member of the Congress for the New Urbanism. Robert Hankin, Hankin Group’s CEO, said, “Tioga Town Center is the first community that we have found that was built by another developer and meets the high standards of quality in construction, design and planning that we seek in building our portfolio of town center communities. We are excited about the completion of Tioga Town Center and look forward to making it an even more vibrant community.”
In addition to acquiring all the commercial space at Tioga Town Center, Hankin Group’s Hankin Apartments’ division will oversee The Flats at Tioga Town Center, 40 popular luxury apartments that are an integral part of the community. Hankin Apartments is the multi-family division of Hankin Group, a division that has been building and managing residential communities for more than 60 years. Hankin is working with Front Street Commercial Real Estate Group to assist with the day-to-day operations for Tioga Town Center, including The Flats.
“We have truly enjoyed our experience as owners of Tioga Town Center and look forward to seeing it continue to grow under new ownership,” said Horst Ferrero. “We will continue to own multiple properties locally and pursue new developments across the region. I have great confidence in the new ownership at Hankin Group and it’s heartening to know that they have such meaningful ties to the community.”
Both Hankin Group and Front Street operate with a strong philanthropic philosophy in mind. Hankin Group’s Hankin Foundation, founded in 1984, is dedicated to supporting local and global community institutions, non-profit organizations and other selective charitable efforts. The foundation, which emphasizes building relationships with quality charitable organizations offering programs that make a difference in their communities, contributes to about 100 charitable organizations per year. Similarly, Front Street supports the community through its INVESTED program, which gives 10 percent of all brokerage revenue to local, cause-related organizations.
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