4Y Plaza LLC Acquires The Shoppes At The Heart Of Tradition Retail Center For $32M

The property involved in this transaction is a retail center located at 9850 Southwest Discovery Way in Port St. Lucie. The sale price for the asset was $32,000,000 for a total square footage of 71,000, resulting in a price per square foot of $451. The center is anchored by ALDI.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $32,000,000
• Buyer: 4Y Plaza, LLC
• Seller: Ian Weiner - PEBB Enterprises; Jason Sher, Ross Feurring & Doug Feurring - Banyan Development
• Broker: One Investment Group
• Square Footage: 71,000
• Price Per Square Foot: $451

In this transaction, the buyers, represented by One Investment Group, acquired the retail center from a group of developers including Ian Weiner, who is associated with PEBB Enterprises, and Jason Sher, Ross Feurring, and Doug Feurring from Banyan Development. Notably, PEBB Enterprises and Banyan Development are also engaged in the development of the Shoppes at Southern Grove, a nearby 14.2-acre retail project with available outparcels.