The Real Deal Miami

Tower Shops in Davie sold for $68M

January 25, 2011 10:56AM

The Tower Shops in Davie has been sold by developer Turnberry Associates for $67.5 million, or $26.5 million more than the balance of the mortgage on the property. FR Tower Shops bbought the 383,200-square-foot center through its affiliate, Tri-County Plaza Associates. It is located at 1902 South University Drive. In the downturn, Tower lost tenants like Linens ‘N Things, but it has been able to rebound with new leases for companies such as Office Depot, Pep Boys and DSW. The buyer was FR Tower Shops. [SFBJ]