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

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.