Weston retail buildings sell for nearly $17M

TRD MIAMI /
Nov.November 21, 2013 10:30 AM

Two retail buildings in Weston changed hands for $16.6 million, The Real Deal has learned.

A company managed by Scottsdale, Ariz.-based real estate investment trust Spirit Realty Capital sold the buildings at 4471-4473 and 4477 Weston Road, according to Broward County records. The buyer is SRA/Weston Shops, a Miami Beach company that shares a mailing address with veteran real estate firm Savitar Realty Advisors. Savitar most recently led the redevelopment of the former Lincoln Theatre in Miami Beach into a flagship H&M store.

SRA/Weston obtained a $12.5 million loan from Bank of America for the acquisition. Broward County recorded the sale and financing transactions on Wednesday.

The buildings total about 32,000 square feet on more than four acres. Tenants include Chipotle and Walgreens. The properties last sold for $16.4 million in July 2008.

This is the second expensive retail sale in Broward County this month. A Publix-anchored shopping center in Southwest Ranches was sold for more than $23 million to a Cincinnati investor. — Eric Kalis


Related Articles

arrow_forward_ios
Maria Penaloza

So Flo Real Estate Group sued over spam text messages

From left: Howard Sands, Scott Tracy, and Kenton Wright

Walgreen sells store near Boca Raton for $9M

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

Placeholder image

Blackstone sells Weston hotel for $12M

Daily Digest Miami

Carl DeSantis buys Delray office building, Faena lists Miami Beach home: Daily digest

Walgreens at 3200 South Federal Highway

Walgreens sells Delray Beach store on Federal Highway

509 Collins Avenue and brokers Gabriel Britti, Ricardo Esteves and Ronnie Issenberg (Credit: Marcus & Millichap)

Allied Partners buys Walgreens in Miami Beach for $33M

SoFla lease roundup: Aldora moving HQ to Coral Springs and more

SoFla lease roundup: Aldora moving HQ to Coral Springs and more

arrow_forward_ios
Loading...