Coral Springs Retail Center Sells For $9M

The North Hills Square shopping center in Coral Springs has sold for $8.9 million, or $139 a square foot.
The purchase of the 64,000-square-foot retail center, anchored by a 52,024-square-foot Wal-Mart Neighborhood Market, marks Dizengoff-Trading Group’s third retail purchase in two years and the second anchored by a Wal-Mart property. The other, Colonial Promenade Winter Haven, includes a 223,000-square-foot Wal-Mart SuperCenter.
Dizengoff-Trading Group has invested more than $70 million in Florida real estate since opening an office in Boca Raton two years ago. The company targets income-generating properties, with a focus on open-air retail centers and bulk condo units at mid-rise and garden-style multifamily complexes. In addition to the retail centers, Dizengoff-Trading Group has made four bulk condo purchases in South Florida.
North Hills Square is located at 4650 University Drive, on the corner of University Drive and Wiles Road. The center is 97 percent occupied with tenants including Wendy’s and Manhattan Bagel.
Steve Miskew, managing director of RJS Realty Group was the exclusive agent representing the seller in the sale and was the sole broker in the transaction.
The seller was WCOT North Hills Square, LLC, an investing company formed for the benefit of an account advised by Prudential Real Estate Investors.
Source: SFBJ