JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Director Danny Finkle, Senior Director Jorge Portela and Vice President Kim Flores.
The Art Deco retail property spans 35,240-square feet and is currently 98% leased to a premier tenant roster, including H&M, which anchors the property.
The property was acquired as part of Stiles’ recently announced acquisitions strategy, which targets value-add retail properties in Florida. A detailed renovation is scheduled to begin early 2025.
The 347,740-square-foot grocery-anchored retail center is situated on over 18 acres and boasts an impressive leasing rate of 98.3%.
JLL represented the seller, Continental Realty Corporation. An affiliate of JBL Asset Management acquired the asset.
Danny Finkle, Eric Williams, Jorge Portela, Ike Ojala and Kim Flores of JLL’s Miami office represented the seller, and John Crotty and Michael T. Fay of the Avison Young’s Miami office consulted with both parties on the transaction.
JLL Capital Markets arranged the sales of the 70,288-square-foot Shops at Sunset Lakes in Miramar, Florida and the 109,811-square-foot Town Center Shops at Jensen Beach.
He has consistently been one of the nation’s top producers, receiving several industry achievements, including being named top producer for industrial capital markets in 2021.
The 100-percent-leased Deerwood Town Center is anchored by a strong-performing Fresco y Mas and Home Depot and also includes Amped Fitness, Pet Supermarket and TD Bank.
The sale does not include other components of the mixed-use development, such as its 158-unit Congregate Living Facility and numerous outparcels.