Seasoned real estate veteran Scott Sherman has officially launched Torose Equities, a Miami-based real estate investment firm with a value-add urban retail, office and mixed-use strategy targeting the Southeastern United States.
The sale does not include other components of the mixed-use development, such as its 158-unit Congregate Living Facility and numerous outparcels.
Tricera is scheduled to deliver possession to its tenants by Q4 2022.
Scott O’Donnell, Mike Ciadella, Greg Miller, Dominic Montazemi, Miguel Alcivar, Jason Hochman, and Ron Granite of Cushman & Wakefield represented the seller in the transaction.
At the time of sale, The Shops at Village Square was fully occupied by 15 retail, office, and service tenants.
CBRE Executive Vice President John Criddle, First Vice President Joe Freitas and Transaction Manager Allie Lancashire signed the lease deals.
Greg Matus, Adam J. Tiktin, Jonathan de Maa, and Alex Lazo of Franklin Street’s Florida Investment Sales Team represented the buyer in this transaction.
Publix Super Markets, Inc. acquired the center.
The property sold for $532 a square foot, which reflects a 4.11% cap rate.
The 5,636-square-foot convenience store and gas station is situated on a 2.88-acre parcel.