Sale of Publix-anchored retail center in Miami MSA closes
JLL Capital Markets arranged the sale of the 124,585-square-foot Tamarac Town Square in Tamarac, Florida
MIAMI, April 10, 2024 – JLL Capital Markets announced today that it has closed the sale of Tamarac Town Square, a 124,585-square-foot, Publix-anchored shopping center located within the Miami MSA.
JLL represented the seller, Regency Centers, and an affiliate of Jamestown acquired the asset.
Built in 1983, the 83.8-percent-occupied Tamarac Town Square is leased to a strong roster of national retailers, including Publix, Retro Fitness, Dollar Tree, Humana and McDonald’s.
Situated on 18.6 acres in northwest Broward County, the center is located on the southwest corner of the Pine Island Road and Southgate Boulevard intersection at 8129-8315 North Pine Island Rd. The center is approximately 11 miles northwest of downtown Fort Lauderdale, eight miles south of Boca Raton and 30 miles north of Miami. The property serves an incredibly dense and growing trade area, with a population of 540,506 and an average household income of $89,058 within a 15-minute drive.
The JLL Retail Capital Markets team that represented the seller was led by Senior Managing Director Danny Finkle, Senior Directors Eric Williams and Jorge Portela and Vice President Kimberly Flores.
“Quality Florida retail investment opportunities continue to attract outstanding investor demand, and Tamarac Town Square represented a prime grocery-anchored offering in a strong South Florida retail submarket,” said Williams.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Regency Centers
Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com.
About Jamestown
Jamestown is a global, design-focused real estate investment and management firm with a 41-year track record and a mission to transform spaces into innovation hubs and community centers. Since its founding by Christoph Kahl in 1983, Jamestown has executed transactions totaling approximately $40 billion. As of December 31, 2023, the company has assets under management of $11.6 billion and a portfolio spanning key markets throughout the U.S., Europe, and Latin America.
Jamestown employs more than 500 people worldwide with headquarters in Atlanta, Georgia, and Cologne, Germany, and offices in Amsterdam, Bogotá, Boston, London, Los Angeles, Madrid, New York, San Francisco, and Washington, D.C.