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Anatomy of a Sale: Shoppes at Mission Lakes in Florida

The Shoppes at Mission Lake - photo provided courtesy of JLL

JLL represented Mission Lakes LLC in its sale of the Shoppes at Mission Lakes, which consists of three strip center buildings located in an affluent area of South Florida’s Palm Beach county. The shopping site is fully leased. Notable tenants include Your CBD Store, China Express, Heartland Dental, Mattress Firm, Advance Auto Parts and Pet Supermarket, the latter three which are located in an outparcel building of a Super Target store.

Square Footage: 41,429 s.f.
Property name: Shoppes at Mission Lakes
Location: Lake Worth, Fla.
Property type: Three multi-tenant strip center buildings
Seller: Mission Lakes LLC
Buyers: Krantz Family LLP, Daryl and Carol Stair Revocable Trust, Steven Stair, Carley Stair and Rebecca Stair Frisoli
Sale Price: $14.75M

Other retailers nearby include an ABC Fine Wine & Spirits, Dunkin’ anda Sherwin-Williams Paint Store. Within a three-mile radius of the Shoppes at Mission Lakes, the average annual household income is $120,704. The immediate area has many gated single family housing developments that cater to both young families and 55-plus adults alike. The retail properties are in a market that continues to experience affluent growth, and the new owners expect to benefit from the site’s ideal location along the route 441 highway, which spans from Miami to Knoxville, Tenn.

JLL Miami
1450 Brickell Ave, Suite 2110
Miami, FL 33131
Eric Williams, Senior Director, Capital Markets
(305) 609-3456
ericm.williams@am.jll.com
Danny Finkle, Senior Managing Director
(305) 761-0000
danny.finkle@am.jll.com

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