Miami Shopping Center Trades For $674 PSF
The 92,089-square-foot retail center is 100% leased and anchored by Milam’s Market, Walgreens, Orion Fuels and Ace Hardware.
The 92,089-square-foot retail center is 100% leased and anchored by Milam’s Market, Walgreens, Orion Fuels and Ace Hardware.
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 235,000-square-foot property sold for approximately $372 per square foot.
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.
The HFF investment sales team representing the seller included director Ike Ojala, senior managing director Hermen Rodriguez and associate director Jorge Portela. CLICK ON THE HEADLINE FOR MORE
The deal represents the third major office deal on Alhambra Circle this month. CLICK ON THE HEADLINE FOR MORE
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