X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.