Lincoln Property Company Acquires Whole Foods-Anchored Doral Marketplace for $83 Million
DORAL, FL — August 26, 2026 — Lincoln Property Company has acquired Doral Marketplace, a newly constructed, Whole Foods-anchored retail center in Doral, Florida, for approximately $83 million. Lincoln served as investment advisor to the buyer, a high-net-worth family office, on the 83,365-square-foot property situated on roughly 10 acres at the southwest corner of NW 41st Street and NW 107th Avenue.
The transaction, which closed Aug. 26, 2026, adds a fully leased, grocery-anchored asset to Lincoln's growing Florida retail portfolio. The acquisition price implies approximately $934 per square foot. The buyer assumed roughly $50 million in existing debt as part of the transaction.
Property Details and Tenant Roster
Doral Marketplace was completed in 2026 and is 100% leased, with national tenants accounting for 86% of revenue. Whole Foods Market anchors the property and operates its only Doral location there. Additional national tenants include PNC Bank, Ulta Beauty, CAVA, Shake Shack, Warby Parker, and J.Crew. Other tenants at the center include First Watch, GoodVets, The Spot Barbershop, Encore Nails, VIO MedSpa, and Apizza Brooklyn Resto + Vino.
The open-air neighborhood center sits adjacent to Bridge Point Doral, a Class A industrial park spanning more than 175 acres and totaling 2.6 million square feet of LEED-certified industrial space developed by Bridge Industrial.
"Doral is one of the strongest and most durable trade areas in Miami, and we have great confidence in its long-term trajectory," said Diego Juncadella, Executive Vice President for Lincoln's Florida market. "This acquisition gives Lincoln a well-located, grocery-anchored asset built to perform for years to come."
Deal Background: From Land Acquisition to Stabilized Sale
The property's development history traces back to 2024, when SJC Ventures, in partnership with Nuveen Real Estate, acquired the roughly 10-acre site from Bridge Industrial for approximately $32 million. Koniver Stern Group represented SJC Ventures in that land acquisition, while Cushman & Wakefield represented the seller, Bridge Industrial.
SJC Ventures, an Atlanta-based mixed-use and grocery-anchored retail development firm, broke ground on the project in fall 2024, with the first tenant openings targeted for the second half of 2025. The completed, stabilized center was then sold to the Lincoln-advised family office buyer in the August 2026 transaction.
"This acquisition reflects Lincoln's broader strategy of investing behind well-located, necessity-based retail in markets with durable demand drivers," said Gary Kobus, Managing Director and Co-Head of Lincoln's Logistics platform. "Doral's combination of population density, income levels and limited new supply makes this a compelling long-term hold."
Doral Submarket and Miami Retail Conditions
Doral benefits from high household incomes and a strong daytime population driven by office and industrial employment centers in the surrounding area. The submarket sits near Miami International Airport and along major regional thoroughfares, reinforcing its position as one of the market's more sought-after retail corridors.
Miami retail vacancy stood at approximately 2.2% in the first quarter of 2026, with average asking rents near $48.98 per square foot. Broader South Florida retail vacancy has been running around 3.2%, making retail the tightest major commercial asset class in the region. Grocery-anchored centers in Miami and South Florida have been trading at cap rates in the mid-5% range, reflecting strong investor demand for necessity-based retail with defensive cash flows.
Lincoln's acquisition of Doral Marketplace is the firm's latest investment in Florida's retail sector, adding to its portfolio of grocery-anchored assets across the region. Lincoln Property Company manages and leases more than 720 million square feet of commercial space on behalf of institutional clients across the United States, the United Kingdom, and Europe.
About the Firms
Lincoln Property Company is one of the largest private real estate firms in the United States, offering a fully integrated platform of real estate services across asset types including office, multifamily, life science, retail, industrial, data center, and mixed-use properties.
SJC Ventures, founded in 2007 and headquartered in Georgia, is a privately held mixed-use commercial real estate and retail development firm that has acquired and developed more than 60 retail, mixed-use, multifamily, and office projects throughout the continental United States.
Nuveen Real Estate is one of the largest investment managers in the world, with $147 billion of assets under management as of March 31, 2024.
Koniver Stern Group represented SJC Ventures in the original land acquisition. Cushman & Wakefield represented Bridge Industrial, the seller of the development site.
Sources
Related Articles
Colliers Brokers $18.4M Sale of Wind Gap Plaza to Highland Estates Developers in Lehigh Valley 1031 Exchange
