Core Investment Management has acquired Deerwood Town Center, a 205,853-square-foot, grocery-anchored community retail complex in Miami, FL, for $44.9 million. The 100% leased asset is anchored by a Fresco y Mas and Home Depot and supported by Amped Fitness, Pet Supermarket and TD Bank.

Danny Finkle, Eric Williams and Kim Flores of JLL arranged the transaction between the seller, Courtelis Company, and the buyer.

“Opportunities to acquire high-quality grocery and home improvement-anchored centers in Miami are relatively scarce, and Deerwood Town Center has been owned by the original developer since the first phase was completed in 1985,” said Finkle.

 “The strong investor demand for grocery-anchored centers has been well-documented, but a notable increase in interest for ethnic grocers is driving capital formation around acquiring retail centers like Deerwood Town Center,” added Williams. The property sits at 12095 SW 152nd Street (across from Zoo Miami) and benefits from a population of 368,278 within a five-mile radius.