Regency buys University Commons in Boca for $80.5M

Tenants include Whole Foods, Nordstrom Rack, Barnes & Noble and Bed Bath & Beyond

Sep.September 09, 2015 03:00 PM

University Commons, an open-air shopping center in Boca Raton, has traded hands for $80.5 million, The Real Deal has learned.

Regency Centers closed on the purchase of the 180,323-square-foot center at 1400 Glades Road on Sept. 1, a spokesman for the Jacksonville-based company told TRD.

Holliday Fenoglio Fowler, L.P. marketed the property on behalf of the seller, an entity controlled by Boca Raton-based Schmier & Feurring Properties.

Developed in 2001 by Schmier & Feurring Properties, University Commons includes one primary building with four outparcel buildings and 1,156 parking spaces.  

The 22.4-acre center is 100 percent leased to Whole Foods Market, Nordstrom Rack, Barnes & Noble, Bed Bath & Beyond, PF Chang’s, J. Alexander’s, Mario’s Osteria, and Shake Shack.

The HFF team representing the seller was led by senior managing director Daniel Finkle, managing director Luis Castillo and associate director Nat Scarmazzi, according to a release.

“University Commons is one of the premier retail centers in the country,” Finkle said in a statement.  “Its combination of location, tenancy and design are impeccable and highlighted by the tenant’s outstanding sales performance.”

Regency Centers owns, operates and develops dominant, grocery-anchored retail centers. The company currently owns 321 shopping centers in most major U.S. markets.

In South Florida, Regency owns nine shopping centers in addition to University Commons, including [email protected] in Kendall Lakes, Fountain Square in Miami, Aventura Shopping Center in Aventura, Welleby Plaza in Sunrise and Caligo Crossing in Coconut Creek.


Related Articles

1717 Sabal Palm Drive, Steve Calkins (Credit: Premier Estate Properties/Youtube, and LinkedIn)

Former Office Depot exec sells Boca Raton home for $6M

Thomas F. Marano and 1281 Spanish River Road (Credit: Ditech, Redfin)

Former mortgage exec buys waterfront Boca Raton home

Four Seasons Hotel Miami at 1435 Brickell Avenue (Credit: Averette/Wikipedia)

Four Seasons Hotel Miami, DoubleTree near MIA lay off hundreds

A rendering of Manley Storage Ventures facility at 7171 North Federal Highway

New self-storage, retail facility coming to Boca Raton

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

Walgreen sells store near Boca Raton for $9M

Shane Neman, and Mauricio Bello Richard Waserstein, with 525 Northwest 77th Street Marriott in Boca

Blackstone sells Marriott hotel in Boca Raton

Malcolm Butters, 950 Peninsula Corporate Circle in Boca Raton

Butters buys Boca Raton office building

A rending of the the project

REI to open first South Florida store in Boca Raton