Bain Capital and 11North Partners have acquired a $395 million portfolio of ten open-air retail centers in Florida and South Carolina, primarily anchored by Publix.

Information on the Target

Bain Capital and 11North Partners recently announced the acquisition of a portfolio comprising ten open-air retail centers located in Florida and South Carolina. This transaction, valued at approximately $395 million, primarily involves properties that are predominantly anchored by Publix. The portfolio was procured through a strategic partnership focused on the acquisition and operation of open-air retail centers throughout the United States and Canada.

The acquired retail centers boast strategic locations in thriving markets such as Fort Lauderdale, Orlando, Tampa, Palm Beach, and Charleston. Spanning over one million square feet of gross leasable area, the portfolio maintains an impressive occupancy rate of over 93 percent. It features a well-diversified mix of tenants, including national and regional brands such as Bank of America, Chipotle, Starbucks, Chick-fil-A, Jersey Mike’s, and McDonald’s.

Industry Overview in the Target's Specific Country

The retail real estate industry in the United States has been undergoing significant transformation. The acceleration of e-commerce has placed pressure on traditional brick-and-mortar retailers; however, retail centers that focus