A joint venture between Schmier Property Group, Giles Capital Group, Rosemurgy Properties and Wheelock Street Capital has sold Uptown Boca, a premier 194,927-square-foot grocery-anchored shopping center in Boca Raton, Fla.
The buyer was Stockbridge Capital Group.
The sales price was $118.5 million. JLL Capital Markets represented the seller.
Uptown Boca is strategically positioned at 9536–9704 Glades Rd. with 1,300 linear feet of frontage along this major thoroughfare carrying 37,000 vehicles per day. The property sits within a thriving mixed-use development with 456 luxury residential units and is surrounded by one of South Florida’s most affluent and rapidly growing populations.
The institutional-quality retail center is 100 percent leased to a strong mix of national and regional tenants, including Whole Foods Market, Life Time Fitness, REI, HomeSense and Sephora. The property features a weighted average lease term of 12.5 years and minimal nea
