Saglo buys its first shopping center in PB County

Miami /
Jan.January 28, 2017 01:00 PM

Miami-based Saglo Development bought its first shopping center in Palm Beach County for $10.2 million.

Saglo paid $61.82 per square foot to North Miami Beach-based real estate investment trust Equity One for Lantana Village Square, a 164,980-square-foot shopping center at Hypoluxo Road and U.S. 1. CBRE brokered the transaction and BB&T financed it. 

National and regional retailers including Winn-Dixie, Subway, Metro PCS and H&R Block account for about 84 percent of the shopping center’s total income from tenant leases.

Saglo bought Lantana Square because of its exposure on U.S. 1 and a scarcity of similar properties in the area: The shopping center is one of only three significant ones between Boynton Beach Boulevard and Lake Worth Road.

Saglo also cited luxury residential developments near Lantana Square as a motive for acquiring the property.

Saglo Development owns more than 1.25 million square feet of retail shopping center space in Florida and seeks to acquire more shopping centers in markets across the nation. Saglo’s acquisition team is Hue Chen and Kristina Remington.


Related Articles

arrow_forward_ios
Damac Properties founder Hussain Sajwani and the Surfside collapse site (Damac, Getty)
Dubai developer revealed as $120M bidder for Surfside collapse site
Dubai developer revealed as $120M bidder for Surfside collapse site
Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
Alex Rodriguez and Constantine Scurtis at far right (Getty)
A-Rod gets 13 lawsuits dismissed that were filed by ex-brother-in-law over real estate empire
A-Rod gets 13 lawsuits dismissed that were filed by ex-brother-in-law over real estate empire
Estate Companies pays $15M for downtown Hollywood Opportunity Zone site
Estate Companies pays $15M for downtown Hollywood Opportunity Zone site
Estate Companies pays $15M for downtown Hollywood Opportunity Zone site
Harvey Hernandez and a rendering of his Brickell project
Harvey Hernandez plans three-tower project on riverfront Brickell site
Harvey Hernandez plans three-tower project on riverfront Brickell site
Infinity project (Kobi Karp)
GPI Real Estate wins $6M settlement over failed Sunny Isles Beach project
GPI Real Estate wins $6M settlement over failed Sunny Isles Beach project
Judge Michael Hanzman and the site at 8777 Collins Avenue (Miami-Dade Circuit Court, Getty)
Judge overseeing Surfside collapse litigation chastises town over proposed downzoning
Judge overseeing Surfside collapse litigation chastises town over proposed downzoning
Sweetwater affordable senior rental project scores $33M construction loan
Sweetwater affordable senior rental project scores $33M construction loan
Sweetwater affordable senior rental project scores $33M construction loan
arrow_forward_ios

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

Loading...