Juster Development buys Boynton Beach shopping center for $19M

MMG Equity Partners and Global Fund sold the Publix-anchored center

TRD MIAMI /
Feb.February 12, 2019 01:30 PM

MMG Equity’s Gabriel Navarro and Whitworth Farms shopping center

A joint venture between MMG Equity Partners and Global Fund sold a Publix-anchored shopping center in Boynton Beach to Juster Development Company, adding to the growing commercial investment in the eastern Broward County city.

Whitworth Farms, at 12425 Hagen Ranch Road, sold for $19.35 million, according to a press release from MMG. Dennis Carson of CBRE was the listing agent for the property, which sold at 96.1 percent leased.

The MMG joint venture paid $11.2 million for Whitworth Farms in March 2013, records show.

Juster Development Company owns and manages 18 shopping centers along the East Coast, totaling almost 2 million square feet, according to its website. The company also owns another Publix-anchored development, the Palm Crossings West Melbourne.

Many Publix-anchored shopping centers are owned by the grocer itself. The company owned 31.8 percent of its stores at the end of 2017.

Boynton Beach, located between Boca Raton and West Palm Beach, has seen a number of new apartment and senior living developments in recent years. A luxury townhouse project a block away from the ocean recently launched sales, with prices starting at about $1.5 million.


Related Articles

arrow_forward_ios
Publix plans to build and open a grocery store in Hollywood (Credit: Getty Images, Pixabay)

Boaters, rejoice: Waterfront Publix with boat access moves forward

Boynton Commons and InvenTrust Properties Corp CEO Tom McGuinness (Credit: Google Maps and InvenTrust)

Carlyle Management pays $50M for Boynton shopping center

James Batmasian and 22973-23071 State Road 7

James Batmasian buys Publix-anchored Boca Raton shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

South Florida firm, partner acquire Tampa office building for $29.4M

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

arrow_forward_ios