Saturday, December 12, 2015

HFF closes sale of Coral Palm Plaza in Coral Springs, FL

Coral Palm Plaza, 2001-2153 University Drive, Coral Springs, FL

Daniel Finkle
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Coral Palm Plaza, a 135,723-square-foot, grocery-anchored retail center in Coral Springs, Florida. 

HFF marketed the property on behalf of the seller.  An entity controlled by RK Centers purchased the asset free and clear of existing debt.

Coral Palm Plaza is home to specialty grocer Doris Italian Market as well as anchors Michael’s, Buy Buy Baby, Dollar Tree and Planet Fitness.  

Additional shop tenants of the 96.7-percent-leased center include Panera Bread, Vision World, Great Clips, Coral Springs Physicians and El Mariachi Restaurant. 

The center is situated on 14.1 acres at 2001-2153 University Drive within the city of Coral Springs.  Coral Palm Plaza is located in the northwestern part of Broward County three miles east and south of the Sawgrass Expressway and five miles west of the Florida Turnpike.  More than 350,000 residents live within a five-mile radius of the center.

The HFF investment sales team representing the seller was led by managing director Luis Castillo, senior managing director Daniel Finkle, and associate director Nat Scarmazzi.

“Coral Palm Plaza’s combination of food, fitness and destination anchors coupled with the property’s excellent positioning within the desirable Coral Springs market appealed to buyers,” Castillo said. “This property is well positioned for the future and will continue to outperform the market under the new ownership.”

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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