Ohio REIT adds to Coconut Creek holdings with $10M purchase

Miami /
Jul.July 14, 2015 10:30 AM

The Westcreek Plaza in Coconut Creek sold on Friday for $10.225 million, Broward County records show. 

An affiliate of Cincinnati, Ohio-based Phillips Edison Grocery Center REIT added to its South Florida portfolio with the purchase of the 40,172-square-foot shopping center at 4800 West Hillsboro Boulevard. Wells Fargo granted the buyer a $6.5 million mortgage.

Phillips Edison already owns the West Creek Commons next door, a 67,528-square-foot Publix-anchored shopping center. The public, nontraded real estate investment trust acquired it in May 2014.

Westcreek Plaza sits on 4.4 acres and includes a Duffy’s Sports Grill and Amici’s Pizzeria. Coconut Creek-based Westcreek Plaza LLC was the seller.

It was built in 1987, according to Broward County property records. Its only recorded sale price was in 2000 for $700,000 as part of a larger purchase.

Phillips Edison acquires, manages and invests in grocery-anchored shopping centers, according to the company’s website.


Related Articles

arrow_forward_ios
10181 US Highway 98 West and 39 Sandy Dunes Circle (LoopNet)
Florida Panhandle estate sold for $25M
Florida Panhandle estate sold for $25M
NorthWest Healthcare's Paul Dalla Lana with 13211 US Highway 1 (NorthWest Healthcare Properties, Google Maps)
Toronto REIT buys Juno Beach rehab center for $25M
Toronto REIT buys Juno Beach rehab center for $25M
The "Jumanji" house at 9291 Point Cypress Drive in Orlando (Saunders Ralston Dantzler Real Estate, iStock)
“Jumanji” house in Orlando lists for $25M
“Jumanji” house in Orlando lists for $25M
Naples, Florida (iStock, Freepik, Illustration by Shea Monahan for the Real Deal)
Florida’s west coast cities rank among top emerging real estate markets
Florida’s west coast cities rank among top emerging real estate markets
“Are we in a bubble?” Home sales and price growth to slow in 2022, experts say
“Are we in a bubble?” Home sales and price growth to slow in 2022, experts say
“Are we in a bubble?” Home sales and price growth to slow in 2022, experts say
Joel Greenberg's attorney holding legal texts outside of a federal courthouse (Getty)
Joel Greenberg associates indicted on federal real estate fraud charges in Florida
Joel Greenberg associates indicted on federal real estate fraud charges in Florida
T-Mobile store logo (Getty) and 4850 Northwest 103rd Avenue in Sunrise, Florida (Google Maps)
Des Moines investment firm pays $26M for T-Mobile data center in Sunrise
Des Moines investment firm pays $26M for T-Mobile data center in Sunrise
Gov. DeSantis (Credit: Joe Raedle/Getty Images)
Drink up: Bars can reopen Monday in the Florida Keys — but not in rest of South Florida
Drink up: Bars can reopen Monday in the Florida Keys — but not in rest of South Florida
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...