JACKSONVILLE-The North American Development Group, a Toronto-based company with its US headquarters in Palm Beach Gardens, purchased two retail properties in Florida. The first was a 42,448-square-foot, Publix-anchored shopping center in Jacksonville, for which it paid $8.7 million. The sale was not an arms-length transaction, according to the Duval County property records. The second purchase was an 18.5-acre-parcel in Vero Beach, for an undisclosed sum. The developer is planning to build a Publix shopping center at this site as well.

The North American Development Group, which was founded in 1977, focuses exclusively on shopping centers. It has acquired 12 existing centers and super market development sites over the past eight months with a total gross leasable area of over one million square feet.

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