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| Grove Market at Westlake |
MIAMI, FL, Sept. 12, 2022 – JLL Capital Markets announced today that it has closed the $19.5 million sale of Grove Market at Westlake, a 76,356-square-foot, grocery-anchored property located in Westlake, Florida within Palm Beach County.
JLL represented the seller and procured the buyer, Premier Developers.
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| Kim Flores |
Built in 1999 and renovated in 2021, the center is 94.7% leased to a diverse mix of food and beverage, medical and service uses and is led by a recently added Winn-Dixie in their new prototype.
Additional
tenants include Napa Auto Parts, Gator Shack, Exit Realty, Il Pomodoro, Great
Wall, Lox Nails and more.
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| Danny Finkle |
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Director Danny Finkle, Senior Director Eric Williams and Vice President Kim Flores.
“Grocery-anchored centers in South Florida remain in high demand from investors,” said Finkle. “The outstanding residential growth occurring in the Westlake area along with the high barriers to entry in the immediate area ensure Grove Market’s long-term success.”
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| Eric Williams |
Additionally, the center has access to an affluent customer base with an average household income of $97,309 within three miles.
CONTACT:
Jenna
Sharp,
JLL Associate
Public
Relations
Phone: +1
214 394 3356
Email: Jenna.Sharp@am.jll.com
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