Sleiman Enterprises paid $20.85 million last week for the Point Meadows shopping center in Baymeadows, anchored by Stein Mart.
Jacksonville-based Sleiman, through Property Management Support Inc., bought the center from Konover South LLC, a Deerfield Beach-based real estate investment company.
Konover South said in a news release Monday the properties, totaling 140,080 square feet, were 93 percent leased at closing. The center is at Baymeadows Road and Interstate 295.
Konover South said tenants include Bank of America, Carrabba’s, Outback Steakhouse, Pottery Works, Walgreens and Wendy’s. A 46,700-square-foot Winn-Dixie store closed in 2010. Sleiman President Toney Sleiman said Winn-Dixie still leases and controls the store.
Cliff Taylor of CBRE served as selling broker in the transaction.
“Demand for well-located retail property in Florida has heated up over the past 18 months and Point Meadows is a prime example,” David Coppa, CEO of Konover South, said in the release.
Konover South said it paid $17 million for the center in November 2013. Its retail portfolio now includes 27 centers in South Florida, including three under development in Broward and Martin counties. It said its portfolio also includes two centers in Ocala.
Konover South is a fully integrated acquisition, development and management company operating in the Southeast. It is part of The Simon Konover Organization.
Property Management Support Inc. is trustee of the Point Meadows Land Trust. Property Management’s officers include Toney Sleiman, as president, and Eli Sleiman, Joseph Sleiman and Robert White.
Sleiman Enterprises, whose officers are the same, bought the Point Meadows property in two deeds.
One, for $16.725 million, comprised three parcels and the other, at $4.125 million, was for one. USAmeriBank of Clearwater issued a $16 million loan the same day.
The properties comprise 10911 Baymeadows Road; 10915 Baymeadows Road; 10925 Baymeadows Road; and 8358 Point Meadows Drive.
The buildings were developed from 2003-06.
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