SJC Ventures Sells Whole Foods-Anchored Doral Center for $83 Million

The buyer assumed $50 million in debt on the 89,000-square-foot South Florida property, which excludes a separately leased Chick-fil-A parcel.

By the Family Office Real Estate Daily Desk·Monday, August 31, 2026·1 min read

Editorial summary of reporting byCommercial Observer Our editorial standards →

The answer · checked against Commercial Observer

Who sold Doral Marketplace in Doral, Florida, and for how much?

SJC Ventures sold Doral Marketplace, a newly completed Whole Foods-anchored retail center in Doral, Fla., for $83 million, according to property records. The buyer, Dallas-based Traditions Management, assumed $50 million in outstanding debt now assigned to Bank of Texas. The 89,000-square-foot, 10-acre property at 10800 Northwest 41st Street excludes a separately leased 1.8-acre Chick-fil-A parcel.

Key facts

SJC Ventures sold Doral Marketplace in Doral, Fla., for $83 million, according to property records.
The buyer, Traditions Management, is a Dallas-based developer and operator of senior living communities, according to property records.
Traditions Management assumed a loan with $50 million in outstanding debt, which has been assigned to Bank of Texas.
Doral Marketplace spans 89,000 square feet on 10 acres at 10800 Northwest 41st Street, approximately 14 miles west of Downtown Miami.
Whole Foods occupies 43,000 square feet as Doral Marketplace's largest tenant, with other tenants including J. Crew Factory, Ulta Beauty, Shake Shack, and First Watch.
Miami-Dade County retail average asking rents reached $42.50 per square foot in the second quarter of 2026, up 2.6 percent quarter-over-quarter, while vacancy fell to 3 percent.

SJC Ventures Sells Whole Foods-Anchored Doral Center for $83 Million — Image: editorial illustration · Story sourced from Commercial Observer

SJC Ventures sold a Whole Foods-anchored retail center in Doral, Florida, for $83 million, property records show. The Atlanta-based developer completed the 89,000-square-foot property, called Doral Marketplace, last quarter on a 10-acre site at 10800 Northwest 41st Street. The location sits roughly a mile east of the Florida Turnpike and 14 miles west of downtown Miami.

Traditions Management, a Dallas-based developer and operator of senior living communities, bought the center and assumed a loan with $50 million in outstanding debt. The Bank of Texas now holds the mortgage. The transaction excluded a 1.8-acre portion of the property leased to Chick-fil-A.

Whole Foods occupies 43,000 square feet at Doral Marketplace, making it the center's largest tenant. Other tenants include J. Crew Factory, Ulta Beauty, Shake Shack, First Watch, GoodVets, The Spot Barbershop, Encore Nails, VIO MedSpa and Apizza Brooklyn Resto + Vino.

The sale comes as Miami-Dade County retail leasing remains strong. Average asking rents jumped to $42.50 per square foot in the second quarter of 2026, up 2.6 percent from the prior quarter. The vacancy rate fell to 3 percent during the same period.

More than 1.3 million square feet of retail space remains under construction in the county. That pipeline includes another Whole Foods location in South Beach, for which developer Russell Galbut secured a $54 million construction loan last year.

A buyer who assumes $50 million in debt on a newly delivered strip mall is a buyer who believes vacancy will stay at 3 percent, family office advisor Jaf Glazer has cautioned.

Representatives for SJC Ventures and Traditions Management did not immediately respond to requests for comment.

The Deployment Angle

Family Office Real Estate Daily Desk · our analysis, not the source's

The $83 million sale at 60 percent leverage suggests SJC Ventures sold into strength rather than distress. A family office with dry powder should ask whether the trade signals peak pricing for grocery-anchored strip centres in secondary South Florida markets or whether institutional appetite remains firm enough to support similar exit multiples through the current cycle.

The buyer profile matters here. Traditions Management operates senior living communities, not open-air retail, which raises the question of whether this was an opportunistic purchase or part of a broader portfolio pivot. A family office considering co-investment alongside a non-specialist operator should price in execution risk and weigh whether the assumed debt leaves enough room for value creation if cap rates widen.

The arithmetic is straightforward: $83 million less $50 million debt equals a $33 million equity cheque. If Whole Foods pays market rent on 43,000 square feet at Doral's $42.50 per-square-foot average, that tenant alone covers roughly $1.8 million in annual base rent before percentage rent or CAM reimbursements. A family office should model whether the remaining 46,000 square feet can support the balance of debt service and still deliver an unlevered return above 6 percent, particularly if interest rates stay elevated and the vacancy rate ticks up from its current 3 percent floor.

Questions this story answers

01Who bought Doral Marketplace and what did they pay?

Traditions Management, a Dallas-based developer and operator of senior living communities, purchased Doral Marketplace for $83 million, according to property records. Traditions Management assumed a loan with $50 million in outstanding debt, which has been assigned to Bank of Texas. The sale excluded a 1.8-acre parcel leased to Chick-fil-A.

02What is the debt structure on the Doral Marketplace sale?

The buyer, Traditions Management, assumed a loan with $50 million in outstanding debt as part of the $83 million transaction. That loan has been assigned to Bank of Texas, according to property records.

03Who are the tenants at Doral Marketplace?

Whole Foods anchors Doral Marketplace with a 43,000-square-foot location. Other tenants include J. Crew Factory, Ulta Beauty, Shake Shack, First Watch, GoodVets, The Spot Barbershop, Encore Nails, VIO MedSpa, and Apizza Brooklyn Resto + Vino. A Chick-fil-A occupies a separately leased 1.8-acre parcel excluded from the sale.

04What are current retail market conditions in Miami-Dade County?

During the second quarter of 2026, Miami-Dade County retail average asking rents reached $42.50 per square foot, up 2.6 percent quarter-over-quarter, while the vacancy rate fell to 3 percent. More than 1.3 million square feet of retail space remains under construction in the county.

05When did SJC Ventures complete Doral Marketplace?

Atlanta-based SJC Ventures completed Doral Marketplace last quarter, prior to the $83 million sale, according to the source. The property is described as newly completed at the time of the transaction.

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Original reporting

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