St. John’s Town Center North sells for $44 million

Miami-based Core Investments Properties Fund purchased the shopping center June 29.

The St. John’s Town Center North shopping center sold June 29 for $44 million, according to a deed recorded with Duval County Clerk of Courts on July 12.

J.P. Morgan Chase Bank issued a $26 million mortgage to the buyer, Miami-based Core Investment Properties Fund.

The Publix-anchored property at 4413 Town Center Parkway sits on 14.19 acres and was built in 2007.

The shopping center is fully leased to tenants including Aveda, Five Guys Burgers and Fries, The Bread & Board, The Loop, Weight Watchers and Sports Clips. The property includes three outparcels occupied by Tropea Dental Care, 145-Degree Seafood Boil and SunTrust Bank.

Glendale, California-based American Realty Advisors LLC had owned the property since 2010.

Core Investment buys grocery-anchored and experience-oriented retail properties in Florida. It owns and manages more than 2 million square feet of space.

JLL Capital Markets’ Danny Finkle and Eric Williams represented the seller in the transaction.

The Shopping Center Group Senior Vice President Stephanie McCullough said her group partnered with JLL on listing the property. TSCG has managed and leased the shopping center since American Realty Advisors purchased it in 2010.

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