Publix Super Markets, Inc. acquired the center.
The sale closed at a 3.59 percent capitalization rate, which was a record capitalization for all Walgreens stores nationally.
CREC Capital’s co-founders Alan Esquenazi and Warren Weiser facilitated the sale. Danny Finkle and Eric Williams from JLL represented the buyer, an entity controlled by Wharton Realty Group, in the transaction.
“Having achieved 90 percent lease-up prior to breaking ground, this center shows the continued strength of large format brick-and-mortar retail destinations across multiple use categories.”
The asset consists of 75,406 square feet of upscale retail and 45,068 square feet of office space.
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