Developer signs lease with Wal-Mart for new Miami-Dade market

An affiliate of Courtelis Co. bought a site in south Miami-Dade County and signed a lease with Wal-Mart Stores to build a new Neighborhood Market.

Coral Town Park LLC, owned by Maurice Cayon and Carlos Herrera Jr. in Miami Lakes, sold the 6.9-acre site at 14325 S.W. 268th St. (Moody Drive) in Naranja for $4.515 million to CTP Landowner, an affiliate of Miami-based retail developer Courtelis Co. The developer is led by Douglas Pitts Sr.

County records show that Wal-Mart signed a 20-year ground lease…