Core Investment Management has expanded its real estate portfolio with the strategic acquisition of Jacaranda Plaza, a prominent Publix-anchored shopping center located in Plantation, Florida. The transaction, facilitated by JLL Capital Markets, marks a significant addition to Core Investment Management’s growing assets under management.
Key Takeaways
- Core Investment Management has acquired Jacaranda Plaza, a 175,084-square-foot shopping center in Plantation, Florida.
- The property is anchored by a Publix supermarket and features a strong mix of national and regional retailers.
- JLL Capital Markets represented the seller and also arranged the acquisition financing through U.S. Bank.
Strategic Location and Tenant Mix
Jacaranda Plaza boasts a prime location at the intersection of West Sunrise Boulevard and North University Drive, benefiting from high daily traffic counts and excellent accessibility to major South Florida expressways. The center is situated in an affluent, established suburban area, serving a densely populated trade area with strong demographic appeal.
The 97.9% leased shopping center is anchored by Publix, a long-standing tenant with a 25-year history at the location. Other significant tenants include Ross Dress for Less, Five Below, Planet Fitness, and Dollar Tree, contributing to a diverse and resilient tenant base.
Investment Opportunity
Danny Finkle, Senior Managing Director at JLL, highlighted Jacaranda Plaza as a compelling investment opportunity. He noted the center’s high-volume Publix anchor, dense South Florida location, proven tenancy, and potential for future growth through mark-to-market lease opportunities. The property’s position within a leading retail node, supported by major employers and residential development, further enhances its long-term prospects.
JLL’s Investment Sales and Advisory team, led by Danny Finkle, Jorge Portela, and Evan Lahr, managed the sales aspect of the transaction. The firm’s Debt Advisory team, including Chris Drew and Brian Gaswirth, along with Luke Maganas, secured the acquisition loan from U.S. Bank on behalf of the new owner.