Walmart Neighborhood-Anchored Retail Trades in West Palm Beach

Forest Hill

WEST PALM BEACH, FL—Riverstone Capital Group has purchased Forest Hill, a 112,364-square-foot, retail center anchored by a Walmart Neighborhood Market in West Palm Beach, Florida, from Trinity Place Holdings. JLL closed the $19.6 million sale and arranged $13 million in acquisition financing, placing the seven-year permanent loan with SunTrust.

Luis Castillo, managing director, JLL Retail Capital Markets, tells GlobeSt.com that the retail center was significantly renovated by Trinity Place Holdings in 2016, when it signed Walmart Neighborhood Market. He says he isn’t sure if Riverstone plans more changes for the property. The center is 93% leased, he says.