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
Asher Abehsera and Jonathon Yormak with 2400-2500 North Miami Avenue (Google Maps)
LIVWRK in contract to buy Wynwood assemblage from East End Capital
LIVWRK in contract to buy Wynwood assemblage from East End Capital
The Estate Companies Principal Jeff Ardizon and Managing Principal Robert Suris with a rendering of the project. (Estate)
Estate Companies scores $76M construction loan for North Miami Beach apartments
Estate Companies scores $76M construction loan for North Miami Beach apartments
The site and renderings of Premium Development’s nearby project. (Premium Development)
Multifamily developer buys piece of Little Havana assemblage
Multifamily developer buys piece of Little Havana assemblage
FECI's Kolleen Cobb with Countyline Corporate Park and the new sites at 4181 and 4241 West 108th Street (Google Maps)
FECI plans Countyline Corporate Park expansion with $33M construction loan
FECI plans Countyline Corporate Park expansion with $33M construction loan
Alliance Residential Company CEO Bruce Ward and 6595 Morikami Park Road (Google Maps)
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Prologis CEO Hamid Moghadam with project plans, an aerial view of Northwest 129th Avenue and 14th Street and the Dolphin Expressway in Miami-Dade County (Prologis, Getty, Google Maps)
Prologis plans to expand its Beacon Lakes business park in Miami-Dade
Prologis plans to expand its Beacon Lakes business park in Miami-Dade
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Domenic Gatto and Banyan Cay Resort and Club (Linkedin, iStock, Banyan Cay)
Developer of Banyan Cay Resort in West Palm faces charge tied to $65M healthcare fraud
Developer of Banyan Cay Resort in West Palm faces charge tied to $65M healthcare fraud
arrow_forward_ios

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

Loading...