Paul Filipe Of Martin Downs Plaza, LLC Acquires Retail Portfolio In Palm City For $14.5M
2909 Southwest High Meadow Avenue & 2843 Southwest Cafe Court
$14,500,000
$201/SF
Building Size
36,000 SF
Asset Type
Retail
Closing
Jul 9, 2026
About this deal
AI
The transaction involved a retail portfolio comprising four buildings, totaling 36,000 square feet. The assets located at 2909 Southwest High Meadow Avenue and 2843 Southwest Cafe Court were sold for $14,500,000 in Palm City, Florida, reflecting a price per square foot of $403.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $14,500,000
- Square Footage: 36,000
- Address: 2909 Southwest High Meadow Avenue & 2843 Southwest Cafe Court
- Market: Palm City, FL
- Buyer: Paul Filipe - Martin Downs Plaza, LLC
- Seller: Eric Fazilleau - Martin Downs NSC, LLC
- Brokers: Stuart Duffin & JJ Sanguily - Cushman & Wakefield
- Price per Square Foot: $403
Cushman & Wakefield facilitated the transaction representing the seller, Martin Downs NSC LLC. The buyer, local investor Martin Downs Plaza LLC, acquired the nationally anchored retail asset, indicating investor interest in the area.
On the Map
$14,500,000
$201/SF
Retail
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Players
High Meadows Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93