(For more retail coverage, click GlobeSt.com/RETAIL.)
DESTIN, FL-The one-year-old, 171,837-sf Shoppes at Paradise Isle has been sold for the highest per-sf price posted this year in this Florida Panhandle resort area, according to area retail brokers. They also tell GlobeSt.com the $242.08 per-sf-price is one of the highest recorded in North Florida over the past five years.
Kenneth Goodman's Interface Properties sold the 92%-leased neighborhood shopping center to a joint venture of Houston-based Weingarten Realty and Boston-based AEW Capital Management for $41.6 million.
The tenant roll includes Best Buy, Linens 'n Things, Office Depot, PetSmart, Thomasville Furniture and Michaels. The center is on Destin's primary retail corridor, US 98/Emerald Coast Highway at the intersection of Mid-Bay Bridge Road.
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