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

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.

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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.

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

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.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

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.

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