Fort Lauderdale mall lands $50M loan

Tenants include Target, Publix, TJ Maxx, Marshalls, AMC, Starbucks

Jul.July 13, 2015 11:15 AM

Owners of the Coral Ridge Mall in Fort Lauderdale received a $50 million mortgage on Friday, according to Broward County records.

The Coral Ridge Shopping Center Trust, led by Andrew Gumberg, took the loan out for the more than 500,000-square-foot shops at 3200 North Federal Highway. JP Morgan Chase is the lender, records show.

Tenants of the mall include Target, Publix, TJ Maxx, Marshalls, Starbucks, Einstein Bros Bagels and an AMC Movie Theatre. Gumberg is chairman and CEO of Gumberg Asset Management Corp., a retail real estate asset management company based in Fort Lauderdale. It acquired the 27-acre site in 1984 for an undisclosed price, according to Broward County property records. The shopping center was developed between 1962 and 2000.

Target anchors the property with 122,516 square feet; Publix with 47,850 square feet; AMC with 36,825 square feet; and Marshalls with 27,000 square feet. Coral Ridge Mall has more than 40 tenants, according to the leasing brochure.

Gumberg also owns the Promenade Shops in Aventura, Coral Palm Plaza in Coral Springs and the Southland Mall in Cutler Bay, according to the company’s website.

Related Articles

La Social’s original location at 7601 Biscayne Boulevard (Credit: Google Maps)

The Weekly Dish: La Social to open in downtown Miami, Salt & Straw is going to Wynwood 25 & more

Daily Digest Miami

Rise in climate-related home buyouts could worsen housing inequality, Eurostars parent buys historic downtown Miami property: Daily digest

From left: Adam Rubin, Farin Milligan, Nicholas Chatman, Tim Elmes, Addison Ruff, Mike Herstik and Niki Michopoulos

Compass poaches Tim Elmes of Coldwell Banker

Charlie Kushner and Laurent Morali over Fort Lauderdale site (Credit: Google Maps)

Kushner goes to Broward, buying site near Fort Lauderdale train station

One Financial Plaza with Clay Hamlin III and Jay Shidler of Alliance HSP (Credit: Google Maps)

Alliance buys One Financial Plaza in downtown Fort Lauderdale

From left: Edward Romo, Ryan T. Shaw and Scott C. Sandelin and the property

Assemblage in downtown Fort Lauderdale selling for $12M

Fort Lauderdale site of planned Riverparc Square sells

Daily Digest Miami

Former Miami mayor Maurice Ferré dies, banks seek to revise Adam Neumann’s credit line: Daily digest