MIAMI, FL – The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of the Courtyard Shops at Wellington, (middle left photo) a 127,000-square-foot, Publix-anchored retail center in Wellington, Florida.
The HFF investment sales team was led by managing director Danny Finkle, (top right photo) executive managing director Manny de Zárraga and associate director Luis Castillo who marketed the property exclusively on behalf of AEW Capital Management.
AEW sold the property on behalf of one of its institutional clients. Federal Realty Investment Trust of Rockville, Maryland purchased Courtyard Shops for $37.9 million and assumed an existing loan on the property.
“This was a rare opportuni
ty to acquire a seasoned, grocery-anchored shopping center with significantly below-market small shops leases in a high barrier location,” said Finkle.Located at 13880 Wellington Trace, Courtyard Shops at Wellington is situated in the heart of the Wellington community.
Completed in 1990, the property has in-line retail shops as well as five owned outparcel sites. Notable tenants include anchor tenant Publix, IHOP, Bank of America, McDonald’s, Washington Mutual, Wachovia and Shell Oil.
“Courtyard Shops’ desirable location at the geographic center of one of South Florida’s most affluent communities and its synergistic mix of prominent national and regional retailers make it one of the leading shopping centers in Palm Beach County,” added Castillo.
Founded in 1981, AEW Capital Management provides real estate investment management services to investors worldwide.
Currently, AEW and its affiliates manage over $50 billion of real estate assets and securities in North America, Europe and Asia (as of June 30, 2008) on behalf of many of the world’s leading institutional and private investors.
CONTACTS:
Daniel P. Finkle, HFF Managing Director, 305 448 1333. dfinkle@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
No comments:
Post a Comment