JLL Capital Markets handles $19.5 million sale of the 76,356-square-foot Grove Market at West Lake in Westlake, FL within Palm Beach County

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.

 

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.

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.”

 Eric Williams

Located at 5060 Seminole Pratt Whitney Rd., the property has high visibility location within Westlake, Palm Beach’s newest upscale master-planned development, and upon buildout, the community will include 4500 new homes, an entertainment-sports complex, two million square feet of commercial space and a 35-acre Wellington Regional Medical Complex. 

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