Whole Foods-Anchored Retail Center in Coral Gables Trades for $47M

CORAL GABLES—A newly-raised core fund advised by Zurich Alternative Asset Management of New York has acquired San Remo, a Whole Foods Market-anchored retail center located here. The 59,694-square-foot, fully leased property, which traded for $46.75 million, is part of a larger mixed-use project. An institutional investment advisor was the seller. JLL marketed the property on behalf of this company. 

Completed in 2007, Plaza San Remo is anchored by a high-producing Whole Foods Market. The rest of the tenants include Pediatric Associates and OXXO Care Cleaners, both of which have made long-term commitments to the center. The property is located at 6701 Red Rd. and is the ground-floor retail component of a seven-story, mixed-use asset that also features medical office space and a seven-story parking garage.