California investors pick up LA Fitness-anchored shops in Pembroke Pines

Regency Centers sold the fully leased shopping center

Miami /
Dec.December 27, 2017 02:40 PM

Chapel Trail Plaza and Danny Finkle from HFF (Credit: HFF)

Regency Centers just sold an LA Fitness-anchored shopping center in Pembroke Pines to California investors, property records show.

The Jacksonville real estate investment trust sold Chapel Trail Plaza, a 56,400-square-foot retail center at 18445-18455 Pines Boulevard, to Walnut, California-based 4528 Colbath LLC for $14.1 million. The company, led by Tad Tilin and Yi Lin Yao, financed the deal with a $9.2 million mortgage from Standard Insurance Company.

The sale breaks down to about $250 per square foot.

Regency’s Equity One, which it acquired last year in a $5 billion deal, paid nearly $8.9 million for the 10-acre property in 2006.

The shopping center, built in 1995, sold fully leased to tenants that include P&L Nail Salon, Boca Tanning Club and Nutritional Power Center. LA Fitness leases nearly 52,000 square feet at the plaza, according to online marketing materials. HFF’s Danny Finkle, Luis Castillo, Eric Williams, Megan Fitzpatrick, Kim Flores and Nat Scarmazzi represented the seller.

Regency is an owner, operator, and developer of grocery-anchored shopping centers. It manages a portfolio of more than 425 properties, according to its website. In November, the REIT sold another shopping center in Davie for $21.3 million.


Related Articles

arrow_forward_ios
Marela Apartments in Pembroke Pines (Marela)
RREEF buys Pembroke Pines apartments for $121M
RREEF buys Pembroke Pines apartments for $121M
The current Miami Beach North Shore library with Mayor Dan Gelber (Google Maps, Gelber)
Miami Beach seeks buyers for city-owned development sites
Miami Beach seeks buyers for city-owned development sites
Developer David Edelstein and Robert Levine of RAL Development with the project (Getty, RAL)
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
(Facebook via Golfview Flats)
Snow Real Estate buys Sunrise apartments for $15M
Snow Real Estate buys Sunrise apartments for $15M
South Florida’s industrial real estate market experienced strong leasing activity, low vacancy rates and asking rent hikes (Getty)
South Florida industrial sector keeps beating pandemic odds, Q2 report shows
South Florida industrial sector keeps beating pandemic odds, Q2 report shows
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
arrow_forward_ios

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

Loading...