Behind the Deal: $88M CocoWalk Trade Dissected

MIAMI— Federal Realty Investment Trust made headlines in May when it acquired an 80% stake in CocoWalk with joint venture partners Grass River Property and Comras Company. The companies paid $87.5 million for their stake in the 198,000-square-foot lifestyle center in Miami’s Coconut Grove neighborhood.

Coconut Grove is attractive to many retail developers, investors and tenants. The city posts some of the strongest year-round income demographics in South Florida, a fast-growing daytime population with over 1 million square feet of office space within walking distance, five existing and three planned hotels, and one of Miami’s best-performing residential markets.