investigation
Bridge Industrial has a vacant 10-acre property
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SJC Ventures and Nuveen Real Estate acquired a Doral business for $32 million, with plans for a divestiture anchored by Whole Foods Market.
Atlanta-based SJC and New York-based Nuveen have acquired Bridge Industrial’s vacant 10-acre assets at the southwest corner of Northwest 41st Street and Northwest 107th Avenue, according to a press release from SJC and Bridge. The launch provided the purchase price, but the resources put it at $32 million.
Michael Finkle of Koniver Stern Group represented SJC and Mark Gilbert of Cushman
SJC and Nuveen are planning the 89,000-square-foot Doral Marketplace with restaurants, retail stores, and service providers such as beauty salons and veterinarians. In addition to Whole Foods, other future tenants include Shake Shack, First Watch, GoodVets, The Spot. Barbershop, Encore Nails, VIO MedSpa and Apizza Brooklyn Resto Vino, according to the statement.
Paintings will begin this fall, the news release says. The first openings of Doral Marketplace are expected in the second half of next year.
SJC, led through managers Jeff Garrison, Jeff DeHart and Fain Hicks, is an advertising real estate investor and developer, as shown on its website. It has purchased or developed more than 60 retail, multifamily and mixed-use projects in the United States. State.
Nuveen Real Estate, an affiliate of the Teachers Insurance and Annuity Association of America, had $147 billion in asset controls at the end of March.
In South Florida, Nuveen Real Estate has prime assets and has been on a sell-off in recent months. This month, Nuveen sold a 197-unit apartment complex in Plantation for $49. 4 million, a five percent reduction from the value of its acquisition a decade ago. In Brickell, Miami, Nuveen sold Tower 801 Brickell last fall for $250 million and also indexed its Tower 701 Brickell this spring for more than $500 million.
The Doral Marketplace progression is adjacent to the 2. 6 million square foot Chicago-based Bridge Point Doral commercial assignment that is recently under construction. Bridge Point Doral is expected to be completed early next year.
Doral Marketplace is an anomaly, as many developers start advertising projects strictly with restaurants and service providers in South Florida. Generally, commercial and dining spaces are incorporated into mixed-use developments that also come with apartments or condos.
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