Deutsche Bank Lends $70M to Build Whole Foods-Anchored Complex in Doral, Fla.
By Julia Echikson July 31, 2024 1:58 pm
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Just days after closing on the site, SJC Ventures secured $69.4 million from Deutsche Bank (DB) to build a retail center in Doral, Fla., that will be anchored by Whole Foods, according to CBRE, which represented the borrower.
The financing will cover Doral Marketplace, a 83,329-square-foot shopping center to be built at the intersection of Northwest 41st Street and Northwest 107th Avenue.
The project is already 69 percent pre-leased to 12 tenants, including Shake Shack, First Watch, GoodVets, Spot Barbershop, Encore Nails, VIO MedSpa and Apizza Brooklyn Resto + Vino.
The development does not yet have a date for a groundbreaking, per a spokesperson for CBRE, whose Richard Henry, Mike Ryan, Brian Linnihan, and JP Cordeiro represented SJC Ventures.
Earlier this week, the Atlanta-based developer, in partnership with real estate giant Nuveen, purchased the 10-acre site for $32 million, according to the South Florida Business Journal. The parcel was part of a 175-acre site where the seller, Bridge Industrial, is building a 2.6 million-square-foot industrial complex.
Julia Echikson can be reached at jechikson@commercialobserver.com.
