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| Kim Flores |
MIAMI, FL – JLL Capital has closed the $18.75 million sale of Rivertowne Square, a 145,502-square-foot shopping center anchored by Winn-Dixie and Bealls Outlet in the South Florida community of Deerfield Beach.
JLL
marketed the asset on behalf of the seller, RPT Realty. South
Florida-based JBL Asset Management acquired the center unencumbered of
existing debt.
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| Eric Williams |
“Grocery-anchored
retail centers along Federal Highway between Palm Beach County and Miami-Dade
County rarely trade,” Williams said.
“Rivertowne
Square represented the opportunity to acquire a well-located center on an
infill 13-acre site with quality in-place tenancy and embedded value
enhancement and/or future redevelopment potential, which was highly attractive
to investors.”
 |
| Danny Finkle |
Anchored by Winn-Dixie and Bealls, the 91.9-pecent-leased Rivertowne Square is also home to a diverse tenant roster that includes Hard Exercise Works, Nail Face Spa, Katz Louise, Brutus Barbershop, Painting with a Twist, Belissimo and Perfect Hair Designs.
Additionally,
the property has two included outparcels fully leased to Buffalo Wild Wings and
Tijuana Taxi Co.
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| Rivertowne Square, Deerfield Beach, FL |
Rivertowne Square is positioned on 13.04 acres at the high-traffic intersection of North Federal Highway and SE 10th Street, which sees more than 72,000 vehicles per day.
This
location is in an infill area of Deerfield Beach, an affluent community in the
eastern part of Broward County that is bordered by Boca Raton and Pompano
Beach.
This
rapidly densifying area is already home to 108,014 residents within a
three-mile radius with a buying power of $2.6 billion.
CONTACT:
Kimberly
Steele
JLL
Sr. Manager
Public Relations
Phone: +1
713 852 3420
Email: Kimberly.Steele@am.jll.com
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