Destin, Fla. — CenterCore Properties LLC has acquired The Market Shops, a 52,838-square-foot retail center in Destin.
Select Properties arranged the transaction on behalf of CenterCore, and Alpha Capital CRE arranged acquisition financing through Ladder Capital Finance. OBP Partners sold the asset for an undisclosed price. The Market Shops was 93 percent leased at the time of sale to tenants such as Sunset Shoes, Bijoux and Pizza by the Sea. Maple Street Biscuit Co., Clean Juice and Jon Smith Subs are scheduled to open at the center this fall. The property is also home to a 13,500-square-foot outpatient medical facility operated by Sacred Heart Health Systems.