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David Lukes Of Curbline Properties Corp Acquires Six Retail Centers From Peter Sleiman For $86.3M

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SOLD
$86,300,000

Florida

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Retail
Sold 03/10/2025
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Property Image
SOLD

David Lukes Of Curbline Properties Corp Acquires Six Retail Centers From Peter Sleiman For $86.3M

4530 Saint Johns Avenue

See Similar Deals
Retail
Sold 03/10/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Transaction Type:Sale

Curbline Properties Corp acquired six retail centers located at 4524, 4509 & 4530 Saint Johns Avenue; 9680 & 9660 Argyle Forest Boulevard; 8221 Southside Boulevard; 10400 San Jose Boulevard; 465 State Road 13 North; 2225-2245 County Road 210 West in the Jacksonville, St Johns & St. Augustine market for a total transaction amount of $86,300,000. The assets included Roosevelt Plaza, Oakleaf Crossing, Deerwood Station, Carrie Plaza, Julington Station, and Southlake Plaza.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $86,300,000
  • Buyer: David Lukes - Curbline Properties Corp
  • Seller: Peter Sleiman - Peter Sleiman Development Group
  • Date of Transaction: 03/10/2025

This transaction marks Curbline Properties Corp's first ventures into the Northeast Florida region, securing the properties from LLCs associated with Peter Sleiman Development Group.

Players

David Lukes
David Lukes
28 deals$1.6B volume
BUYER

Details

SOLD
IMAGE: Peter Sleiman & David Lukes DATE: 03/10/2025 ADDRESS: 4524, 4509 & 4530 Saint Johns Avenue; 9680 & 9660 Argyle Forest Boulevard; 8221 Southside Boulevard; 10400 San Jose Boulevard; 465 State Road 13 North; 2225-2245 County Road 210 West MARKET: Jacksonville, St Johns & St. Augustine ASSET TYPE: Retail BUYER: David Lukes - Curbline Properties Corp SELLER: Peter Sleiman - Peter Sleiman Development Group SALE PRICE: $86,300,000 NOTE: Curbline Properties Corp acquired six retail centers in Northeast Florida for $86.3 million, marking its first purchases in the region. The properties, sold by LLCs tied to Peter Sleiman Development Group, include Roosevelt Plaza, Oakleaf Crossing, Deerwood Station, Carrie Plaza, Julington Station, and Southlake Plaza.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,602,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$306,605.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$409,106.03
Annual Debt Service$4,909,272.34