Edens buys Boca Raton shops, Holiday Inn Express: $54M

Properties last sold for combined $4.5M in 1990 and 2012

TRD MIAMI /
Jun.June 23, 2016 01:30 PM

South Carolina-based Edens just picked up a Boca Raton shopping center and adjacent Holiday Inn Express, records show. 

Edens paid a combined $53.5 million for the properties at 8180 and 8144 Glades Road. Companies tied to Mark Walsh of Delray Beach-based Ocean Properties sold the hotel and retail center.

Lakeside Centre, a shopping center anchored by HomeGoods, Marshalls and Off Broadway Shoes, sold for $40.5 million. The 20-acre, 168,000-square-foot property was completed in 1990. Worth’s Lakeside Development Corporation paid $3.2 million for the land in 1991.

According to online listings, asking rent for ground floor retail space is about $25 per square foot and $12 a foot for second floor space.

Edens also bought the four-story, 97-key Holiday Inn Express Boca Raton-West for $13.5 million, in the same center at 8144 Glades Road. The hotel, which includes a pool and meeting space, last sold for $1.25 million in 2012. It was built in 1973.

Edens owns a number of shopping centers in South Florida, including in Davie, Boynton Beach, Fort Lauderdale, North Miami and North Miami Beach, and Delray Beach. Last year, Edens paid $20 million for the Met Miami Whole Foods in downtown Miami.


Related Articles

arrow_forward_ios
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

arrow_forward_ios
Loading...