Riverstone Capital Group Acquires Property In Ambler For $19.6M With Luis Castillo And Eric Williams As Seller's Representatives

The Shoppes of Forest Hill, located at 4316-4450 Forest Hill Blvd, West Palm Beach, is a retail property that was recently sold for $19.6 million. The property spans 112,364 square feet and was anchored by Walmart, with a leasing rate of 93 percent at the time of sale. This 12-acre shopping center is strategically positioned near the intersection of Forest Hill Boulevard and South Military Trail, where vehicle traffic reaches approximately 92,000 cars per day. The center serves a community of over 150,000 residents within a 3-mile radius.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $19,600,000.00
• Address: 4316 Forest Hill BLVD, West Palm Beach
• Market: Ambler
• Buyer: Riverstone Capital Group
• Seller: Trinity Place Holdings
• Seller's Representatives: Luis Castillo (JLL), Eric Williams (JLL), Daniel Finkle (JLL), Megan Fitzpatrick (JLL)
• Year Built: 1985
• Capital Renovation: 2015
• Tenant Profile: Walmart Neighborhood Market (tenant since 2016)
• Average Household Income within 3-mile radius: $56,000+

JLL represented Trinity Place Holdings in this transaction, with the team comprising Luis Castillo, Daniel Finkle, Eric Williams, and Megan Fitzpatrick. The brokerage was also involved in other significant transactions, including the sale of a 393,387-square-foot regional shopping center in Ocala, Florida, for $39.8 million.