Last Mile Investments Acquires Jupiter Retail Plaza From Elion Partners For $18.5 million
The Cincinnati-based Last Mile Investments have acquired the Pennock Square retail plaza in Jupiter for $18.5 million from the North Miami Beach-based Elion Partners, led by Shlomo Khoudari. Huntington National Bank financed the deal with a $12.95 million mortgage.
The Cincinnati-based Last Mile Investments have acquired the Pennock Square retail plaza in Jupiter for $18.5 million from the North Miami Beach-based Elion Partners, led by Shlomo Khoudari. Huntington National Bank financed the deal with a $12.95 million mortgage. The property was listed with Kirk Olson, Drew Kristol and Alex Zylberglait of Marcus & Millichap as well as Patrick Wagor of Atlantic Retail.
Pennock Square is located at 901 W Indiantown Rd. in Jupiter, FL and was developed in 1997. The property spans 43,485 square feet and sits on 4.16 acres. Tenants include Aspen Dental, Vitamin Shoppe, Club Champion, T-Mobile, Pizza Hut and Stanton Optical. The property last sold for $15.55 million in 2014.
A New Trader Joe's in Miami Beach Breaks Ground, Expected to Open Late 2018
Trader Joe's has broken ground on a new Miami Beach location located at 17th Street and West Avenue. The store is expected to to open in late 2018 and will be Trade Joe's first location on Miami Beach. The storefront will be part of a larger, 5-story project by Turnberry Associates and Elion Partners, which includes 28,000 SF of retail, residences including loft apartments and townhomes as well as 200 parking spaces. The building is being designed by Touzet Studio and Stantec.
Mast Capital and BH Group have announced Raffles Residences Coconut Grove, the brand’s first standalone residential development, with 35 homes from $4.5 million and architecture by Brandon Haw.