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.