SJC Ventures Sells Whole Foods-Anchored Doral Marketplace for $83 Million; Lincoln Property Company Advises Buyer

DORAL, Fla. — Aug. 27, 2026 — SJC Ventures has sold Doral Marketplace, a newly constructed, 100%-leased Whole Foods-anchored neighborhood shopping center in Doral, Florida, for $83 million. The buyer is a high-net-worth family office advised by Lincoln Property Company.

The property, located at 10800 NW 41st Street at the southwest corner of NW 107th Avenue and NW 41st Street in the Miami-Dade MSA, totals 83,365 square feet and was fully leased at the time of closing. Whole Foods Market opened at the center on July 2, 2026.

Deal Terms and Capital Structure

The $83 million sale price translates to a range of approximately $930 to $1,050 per square foot, depending on square footage assumptions used in the calculation. The transaction was structured in part to satisfy a 1031 exchange for the buyer, who sought a core retail investment with stable cash flow and strong credit tenancy.

The acquisition carried a leveraged capital structure, with the buyer assuming an outstanding loan balance of roughly $50 million as part of the transaction. SJC Ventures and Nuveen Real Estate had previously acquired the approximately 10-acre outparcel at Bridge Point Doral for about $32 million in 2024 and subsequently secured a $69.4 million construction loan to fund the ground-up development, at which point the project was approximately 69% pre-leased to 12 tenants.

Tenant Lineup and Property Details

Doral Marketplace is positioned as Doral's newest shopping center, featuring a roster of tenants that includes Whole Foods Market, Ulta Beauty, Shake Shack, J.Crew, and Warby Parker. The center was 100% leased at the time of sale.

The property sits roughly 14 miles west of Downtown Miami, near the Florida Turnpike, in a corridor that Cushman & Wakefield described as one of Miami-Dade's top trade areas. The center's location serves an affluent customer base and a substantial daytime employment population.

"SJC Ventures is one of the premier Whole Foods shopping center developers in the US," said Mark Gilbert, Vice Chair at Cushman & Wakefield. "SJC did a magnificent job executing their business plan, curating a best-in-class tenant line-up that positions the center for long-term success. Whole Foods is the ideal anchor and will thrive based on the area's affluent customer and huge daytime employment base."

"This offering generated highly competitive bidding as one would expect for a Whole Foods center in one of Miami-Dade's top trade areas," said Mitchell Halpern, Managing Director at Cushman & Wakefield. "The center's stable cash flow and strong credit tenancy made it a perfect fit for this buyer seeking a core retail investment to satisfy a 1031 exchange."

Brokerage and Advisory Roles

Mark Gilbert, Adam Feinstein, and Mitchell Halpern of Cushman & Wakefield's Retail Advisory Group represented SJC Ventures in the disposition. Lincoln Property Company served as advisor to the purchasing family office.

Cushman & Wakefield (NYSE: CWK) reported revenue of $10.3 billion in 2025 across its core service lines and operates approximately 53,000 employees in over 350 offices across nearly 60 countries.

Market Context

The transaction reflects continued investor demand for grocery-anchored retail in supply-constrained Sun Belt markets. Miami-Dade retail cap rates have generally tracked in the mid-5% range in recent periods for core assets, consistent with the competitive bidding dynamic described by the Cushman & Wakefield team. The 1031 exchange structure underscores the tax-driven urgency that has kept well-leased, credit-tenanted retail centers in demand among private capital buyers seeking replacement properties with predictable income profiles.

The sale marks the completion of SJC Ventures' development cycle at Doral Marketplace, from site acquisition and construction financing through lease-up and disposition of a fully stabilized asset.

Sources

Cushman & Wakefield – Doral Marketplace Investment Sale Announcement