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South Florida’s Shoppes at Isla Verde Sold for $74M
MetLife Investment Management acquired the Shoppes at Isla Verde, a 207,030-square-foot, trophy grocery-anchored power retail center in the infill South Florida community of Wellington, FL for $73.75 million. The seller was Shoppes at Isla Verde, Ltd, a partnership that includes PEBB Enterprises and Pebb Capital.
Completed in 2008, the center is 94.2% leased to such tenants as Best Buy, Ulta Beauty, Jo Ann Fabrics and Crafts, Petco, Off Broadway Shoes, Total Wine and More and CVS. The future home to Sprouts Farmers Market, the property is located along Wellington’s primary retail corridor at 960 South State Road 7 north of Miami.
HFF’s Daniel Finkle, Luis Castillo and Eric Williams marketed the property on behalf of the seller. PEBB Enterprises will continue to manage and lease the property for the new owner.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

