Regency Centers sells Coral Springs shopping center to Clearwater investor

Regal Cinemas anchors the 130,400 sf property

TRD MIAMI /
Jul.July 19, 2018 03:30 PM

Magnolia Shoppes and Regency’s chairman and CEO Hap Stein

Regency Centers just sold a shopping center in Coral Springs for $23.2 million, according to property records.

Williams Magnolia Properties LLC, a Coral Springs company led by Jimmy Williams of Clearwater, purchased the Magnolia Shoppes at 9645 and 9549 to 9675 Westview Drive.

The 130,400-square-foot shopping center, anchored by a 73,500-square-foot Regal Cinemas, sold for about $180 per square foot. The buyer financed the deal with a $15.5 million loan from Citibank.

The strip mall was built in 1998 on a nearly 15-acre lot on the southwest corner of University Drive and the Sawgrass Expressway. Other tenants in the plaza include Dollar Tree, W Salon, Creative Child Learning Center and Moon Thai & Japanese. A neighboring Office Depot and YouFit Health Club were not included in the deal. It last sold for $11.55 million in 1999.

Regency, an owner, operator, and developer of grocery-anchored shopping centers, manages a portfolio of more than 425 properties, according to its website. In 2016, it acquired North Miami Beach-based Equity One for roughly $5 billion.

In December, Regency sold an LA Fitness-anchored shopping center in Pembroke Pines for $14.1 million.


Related Articles

arrow_forward_ios
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

South Florida firm, partner acquire Tampa office building for $29.4M

South Florida firm, partner acquire Tampa office building for $29.4M

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

Power restored after blackout envelopes West Side of Manhattan

Power restored after blackout envelopes West Side of Manhattan

arrow_forward_ios
Loading...