Weingarten Realty Investors paid $35.5 million for a shopping center next to the Mall at Wellington Green.
The Houston-based Real Estate Investment Trust bought the Village Green Center, anchored by Trader Joe’s, at 2803 South State Road 7 in Wellington, records show. W & W V LLC, led by James Ward of Ward Real Estate Services of Wellington, sold the property.
The shopping center spans 8.3 acres, equating to a price of $622 per square foot. It was built in 2014, records show.
Other tenants include Taco Bell, PDQ, Comcast, Cleveland Clinic and Starbucks, according to Weingarten Realty’s website.
Weingarten is active in South Florida. In 2016, Weingarten Realty Investors paid $92.75 million for the Deerfield Beach Mall. It also owns the Flamingo Pines Shopping Center in Pembroke Pines and the Palms at Town & Country in Miami.
The Wellington property is next to the Mall at Wellington Green, owned partly by Starwood Property Trust. It is Wellington’s biggest taxpayer. Starwood has proposed redeveloping the mall, to include multifamily units, restaurants and entertainment space, and a hotel.