Winn-Dixie-anchored shopping center sells for $14M

The Miami Gardens retail center is 100% occupied

Miami /
Aug.August 12, 2020 09:45 AM
Roger DeLisle of Island Associates and 17237 NW 27th Avenue, Miami Gardens (Credit: Google Maps)

Roger DeLisle of Island Associates and 17237 NW 27th Avenue, Miami Gardens (Credit: Google Maps)

A Miami Gardens shopping center anchored by a Winn-Dixie supermarket sold for $14.5 million.

A company affiliated with Smithtown, N.Y.-based Island Associates purchased the 94,000-square-foot retail center at 17237 Northwest 27th Avenue, according to records.

The seller, a company associated with Peleg Group, had paid $8.2 million for the center in 2013. Peleg Group has offices in Montreal and Miami.

Jason Yukins of Marcus & Millichap represented the seller.

Other tenants in the 100 percent occupied shopping center include Foot Locker, Rainbow Shops and Planet Fitness. The retail center was built in 1991. It was renovated in 2015, according to a release.

Grocery stores have thrived as one of the few businesses to operate nationwide during the Covid-19 outbreak, leading to investor demand for grocery-anchored shopping centers in South Florida.

Earlier this month, Longpoint Realty Partners paid $11.65 million for a shopping center anchored by grocery store Fresco Y Mas in Naranja. In May, a fund managed by Zurich Alternative Asset Management paid $46.75 million for a Whole Foods-anchored retail portion of a building in Coral Gables.

New retail centers also remain in the works, despite the pandemic. In April, Publix Super Markets paid $23 million for its new store in Coral Gables, and MV Group USA filed plans that month for a $20 million town center retail project in south Miami-Dade County.


Related Articles

arrow_forward_ios
RK Centers Ranaan Katz with 1400-1484 East Hallandale Beach Boulevard (Loopnet)
Raanan Katz buys Hallandale Beach shopping center
Raanan Katz buys Hallandale Beach shopping center
Longpoint Realty Managing and Founding Partner Dwight Angelini and the El Paraiso shopping center at 1700 and 1800 West 68th Street in Hialeah (LinkedIn, Google Maps, Getty)
Longpoint picks up Hialeah shopping center for $43M
Longpoint picks up Hialeah shopping center for $43M
Federal Realty CEO Donald Wood and The Shops at Pembroke Gardens at 527 Southwest 145th Terrace in Pembroke Pines (Getty Images, Pembroke Gardens, Federal Realty)
Federal Realty buys Pembroke Pines shopping plaza for $180.5M
Federal Realty buys Pembroke Pines shopping plaza for $180.5M
Lithia CEO Brian DeBoer with the Largo Honda at 554 Northeast First Avenue in Florida City and the Esserman dealership at 10455 Northwest 12th Street in Doral (Southern Oregon University, Google Maps, Largo Honda)
Off the lot: Miami-Dade auto dealership properties trade for $96M
Off the lot: Miami-Dade auto dealership properties trade for $96M
From left: Rockpoint’s Bill Walton and Keith Gelb, 911 Southwest First Avenue and RPT Realty’s Brian Harper (Rockpoint, Google Maps, RPT Realty)
RPT Realty buys Shops at Mary Brickell Village for $216M
RPT Realty buys Shops at Mary Brickell Village for $216M
Jimmy Resnick with 11531 – 11631 North Kendall Drive (Google Maps, Getty)
Jimmy Resnick joins South Florida shopping center buying spree with $32M Kendall purchase
Jimmy Resnick joins South Florida shopping center buying spree with $32M Kendall purchase
River Oaks founder and Chairman Gerald Rubin and Shop Delray at 8918 Atlantic Avenue in Delray Beach (River Oaks Properties El Paso)
River Oaks picks up Delray Beach shopping center for $26M
River Oaks picks up Delray Beach shopping center for $26M
Link Logistics' Luke Petherbridge with 115.7-acre site at 21001 Northwest 27th Avenue (LinkedIn, Google Maps)
Blackstone’s Link Logistics pays $291M for Calder’s horse racing track
Blackstone’s Link Logistics pays $291M for Calder’s horse racing track
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...