David Lukes Of SITE Centers Acquires Westside Shoppes In Windermere For $39M
$39,000,000
$557/SF
Building Size
70,000 SF
Asset Type
Retail
Closing
Jul 9, 2025
AI
The retail asset involved in this transaction is the Westside Shoppes, located at Winter Garden Vineland Road/County Road 535 & Lachlan Lane in the Windermere market. The property was sold for $39,000,000, achieving a price per square foot of $557. The asset spans 70,000 square feet and was built in 2017, featuring tenants such as Panera Bread, Jersey Mike’s, and Gator’s Dockside.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $39,000,000
- Square Footage: 70,000 SF
- Price Per Square Foot: $557
- Buyer: David Lukes - SITE Centers
- Seller: Chuck Whittall - Unicorp National Developments; Dwight Saathoff - Project Finance & Development
- Date of Transaction: 07/09/2025
The deal was represented by David Lukes from SITE Centers, who acted on behalf of the buyer. The sellers, Chuck Whittall from Unicorp National Developments and Dwight Saathoff from Project Finance & Development, were involved as a joint venture in this transaction.
Players
Market 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
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93