Homestead, Fla. — Franklin Street has arranged the $9 million sale of Dixie Center, a grocery-anchored shopping center located in Homestead, a city in Miami-Dade County.
Built in 1985, the shopping center was 93 percent leased at the time of sale to tenants such as Winn-Dixie and Family Dollar. The sale includes three outparcels totaling 2.7 acres.
The buyer, a private investor from Canada, financed the acquisition with a CMBS loan, which was sourced by FM Capital. Pete Crane, Greg Matus and Robert Granda of Franklin Street represented the seller, Palm Beach Gardens, Florida-based Noble Properties.
Franklin Street’s Insurance Services team arranged insurance for the buyer, which has retained Franklin Street to lease and manage the shopping center.