Saglo buys its first shopping center in PB County

The Miami-based firm paid nearly $62 per square foot for Lantana Village Square

TRD MIAMI /
Jan.January 28, 2017 01:00 PM

Lantana Village Square (Source: CommercialSearch.com)

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
Miami-based Saglo buys 18th Florida shopping center

Miami-based Saglo buys 18th Florida shopping center

A cookout at a clubhouse in Sun City Center

Saglo buys its fifth Tampa-area shopping center

Regency set to acquire Equity One in $5B deal

Regency set to acquire Equity One in $5B deal

Shoppes at Armenia in Tampa

Miami-based Saglo buys 4th Tampa retail center

Movers & Shakers: Saglo names new president Hue Chen…& more

Movers & Shakers: Saglo names new president Hue Chen…& more

Miami-based Saglo buys Jacksonville retail center

Miami-based Saglo buys Jacksonville retail center

Chris Drew and Jose Carrazana of HFF

Saglo closes on $20M loan for Miami shopping center

DRA Advisors sells Plantation shops for $33M

DRA Advisors sells Plantation shops for $33M

arrow_forward_ios
Loading...