A newly raised core fund advised by Zurich Alternative Asset Management has purchased Plaza San Remo, a 59,694-square-foot, fully leased, Whole Foods Market–anchored retail center that is part of a larger mixed-use project in the Miami-area community of Coral Gables, Fla.
The sales price was $46.75 million.
JLL Capital Markets marketed the property on behalf of an institutional investment adviser.
“Plaza San Remo is a trophy Whole Foods store serving one of the most recognizable residential submarkets in South Florida,” said Danny Finkle, co-head of JLL’s retail practice. “The fantastic credit tenancy, core Coral Gables location and outstanding tenant sales performance made Plaza San Remo a highly desirable asset by investors and an unparalleled core investment opportunity.”
Completed in 2007, Plaza San Remo is anchored by a high-producing Whole Foods Market. Other tenants include Pediatric Associates and OXXO Care Cleaners, both of which have
