Premier Whole Foods-anchored shopping center trades for $118.5M in Boca Raton
MIAMI, Sept. 15, 2025 – JLL Capital Markets announced today that it has secured the $118.5 million sale of Uptown Boca, a premier 194,927-square-foot grocery-anchored shopping center in Boca Raton, Florida.
JLL represented the seller, a joint venture between Schmier Property Group, Giles Capital Group, Rosemurgy Properties and Wheelock Street Capital. The buyer was Stockbridge Capital Group.
Uptown Boca is strategically positioned at 9536-9704 Glades Rd. with 1,300 linear feet of frontage along this major thoroughfare carrying 37,000 vehicles per day. The property sits within a thriving mixed-use development with 456 luxury residential units and is surrounded by one of South Florida's most affluent and rapidly growing populations.
The institutional-quality retail center is 100% leased to a strong mix of national and regional tenants, including Whole Foods Market, Life Time Fitness, REI, HomeSense and Sephora. The property features a weighted average lease term of 12.5 years and minimal near-term rollover, ensuring long-term cash flow stability.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Director Danny Finkle, Senior Director Jorge Portela and Vice President Kim Flores.
"Uptown Boca represented a rare opportunity to acquire a best-in-class retail asset in one of Florida's most desirable investment markets," said Finkle. "The property's exceptional tenant roster, strong demographics and high barriers to entry made it an attractive institutional-quality acquisition."
"The recent opening of traffic-generating anchors Whole Foods Market and HomeSense and the upcoming opening of Life Time Fitness completely redefined this investment opportunity," added Portela. "Uptown Boca offered an ideal combination of stability with significant upside potential in one of Boca Raton's strongest retail submarket."
The property benefits from exceptional demographics, with 224,052 residents and an average household income of $148,666 within a five-mile radius. The West Boca retail submarket maintains a 97.8% occupancy rate with rental rates at all-time highs, having increased 59% since 2015.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Schmier Property Group
Schmier Property Group is a diversified real estate firm seeking to develop, acquire and operate best-in-class commercial properties. Located in Boca Raton, Florida, SPG and its principals have been involved in the development and ownership of more than 2.5 million square feet of commercial real estate, including some of the most recognized retail shopping destinations in south Florida. SPG is intimately involved in every facet of the development process, from approvals and construction through leasing and rent commencement. We maintain longstanding relationships with national, regional and local tenants who understand the quality of our projects and the professionalism of our team.
About Giles Capital Group
Giles Capital Group is a real estate advisory and investment firm that provides a comprehensive platform for the development, financing, acquisition, operation, and asset management of multifamily rental communities throughout Florida. Since 2012, the company has collaborated as a partner and investor in projects valued at over $730 million, with another $360 million in the pipeline. Since its inception, the company has executed in various sectors of residential real estate, including mixed use, new lease-ups, re-positioning/value added, student housing, high-rise, and garden-style communities.
About Rosemurgy Properties
Rosemurgy Properties is a privately held, Boca Raton–based commercial real estate development, investment, and management firm with a legacy of more than 45 years in South Florida. The company is recognized for its disciplined approach to ground-up development, long-term portfolio stewardship, and value-driven partnerships across a diverse range of asset classes, including multifamily, self storage, retail, and mixed-use projects. With over 2.5 million square feet developed and acquired, Rosemurgy Properties has established itself as a trusted partner in creating high-quality, enduring assets that contribute to the growth and vibrancy of the communities it serves. The firm’s current managed portfolio and active development pipeline exceed $1 billion, underscoring both its scale and its commitment to strategic growth. Driven by an entrepreneurial spirit and a multi-generational commitment to excellence, Rosemurgy Properties continues to help shape communities it develops in through thoughtful design, proven execution, and collaborative partnerships with municipalities, institutional investors, and leading regional partners.
About Wheelock Street Capital
Wheelock Street Capital L.L.C. is a private real estate investment firm founded in 2008 by Merrick R. Kleeman and Jonathan H. Paul, two veteran real estate private equity investors, each with over 30 years of broad real estate transaction experience across all major asset classes and a desire to get back to hands-on investing. Wheelock has assembled and retained a premier investment and asset management team and produced a 17+ year track record of demonstrated and consistent outperformance over industry benchmarks. Since its inception, Wheelock has raised over $5 billion from well-known institutional investors and deployed $11 billion in total value through direct investments and joint ventures, leveraging its in-house expertise in hospitality, residential land, industrial, and retail/mixed-use.
About Stockbridge Capital Group
Stockbridge is a real estate investment management firm led by seasoned senior professionals averaging 25 years of real estate industry experience. The firm was founded in 2003 and manages real estate equity investments across the risk spectrum within a variety of investment structures on behalf of U.S. and foreign institutional investors, family offices and high net worth individuals. Stockbridge has approximately $36.5 billion of assets under management (as of June 30, 2025) spanning all major real estate property types, and certain specialty property types with an emphasis on residential and industrial space throughout the U.S. The firm has offices in San Francisco, Atlanta, Chicago, Dallas, Denver, and Phoenix. For more information, visit www.stockbridge.com