Wednesday, December 26, 2012

HFF closes sale of two Publix-anchored retail centers in South Florida

Plantation Towne Square, Plantation, FL
MIAMI, FL – HFF announced it has closed the sale of Plantation Towne Square, a 108,111-square-foot retail center in Plantation, Florida, and Colonial Shopping Center, a 67,351-square-foot shopping center in Miami, Florida.

HFF marketed the properties on behalf of the seller, Plaza Development Realty, Inc (“Plaza Development Realty”).  Entities affiliated with Publix Super Markets, Inc. purchased both properties subject to existing financing.

Colonial Shopping Center, Miami, FL
Plantation Towne Square was developed in 2001 and is 98.6 percent leased to tenants including Publix, Publix Liquors, Starbucks, Verizon, Bank United, Gamestop, Hair Cuttery and Allstate. 

 The property is situated on a 10.6-acre site at 6905-6989 West Broward Boulevard in the city of Plantation just west of the Fort Lauderdale CBD.

                Colonial Shopping Center is located on a six acre site at 9510 - 9698 SW 160th Street adjacent to South Dixie Highway (US-1) in Miami.  

Luis Castillo
Developed in 1997 and expanded in 2007, the property is 95.8 percent leased to tenants including Publix, Family Dollar, FootLocker, MetroPCS, RadioShack, Gamestop and Space Coast Credit Union.

The HFF team representing the seller was led by director Luis Castillo, senior managing director Daniel Finkle and senior analyst Robert Saracco.  With these transactions, HFF has closed 22 retail centers sale transactions totaling over $429.6 million in Florida in 2012.

Daniel Finkle
“Plantation Towne Square and Colonial Shopping Center are among the most successful and highest volume grocery-anchored shopping centers in South Florida,” said Castillo.  “There was an incredible level of demand for this core, grocery-anchored retail and we expect this trend to continue well into next year.”

For over 30 years, Plaza Development Realty has offered exceptional space for rent throughout Miami, Miami Beach and Plantation through leasing, management and construction of successful shopping centers in Miami-Dade and Broward County, Florida.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

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