C
ayon Development Group and Easton Group have joined the growing list of investors snapping up South Florida shopping centers, purchasing a Homestead retail site anchored by a Walmart Neighborhood Market for $16.8 million. The joint venture acquired a four-building complex at 14325 Southwest 268th Street, according to records and real estate database Vizzda. Miami-based Cayon is led by CEO Mauricio Cayon, while Doral-based Easton is led by chairman Ed Easton.

    The seller, an affiliate of Courtelis Company, bought the 6.9-acre site for $4.5 million in 2017 and completed a 44,922-square-foot building leased to Walmart a year later. The remaining three buildings totaling 16,345 square feet were finished between 2018 and 2023. Other tenants at the shopping center include Taco Bell, Truist Bank, the US Postal Service, and Papa John's Pizza.

    South Florida is experiencing a surge in shopping center trades, with several deals closing recently. In September, Beachwood-based Site Centers sold The Village Square at Golf in Boynton Beach to New York-based DRA Advisors for $31.1 million. Last month, Site Centers also sold Shops at Midtown Miami to Benderson Development for $83.7 million. Additionally, Coral Gables-based Cervera Real Estate Ventures acquired Miller Plaza in Kendall for $18.2 million, and Publix dropped a combined $150 million on four shopping centers anchored by its stores in Broward and Palm Beach counties.