Weingarten Realty pays $36M for Wellington shopping center

The property is next to the Mall at Wellington Green

TRD MIAMI /
Mar.March 19, 2020 09:45 AM
Weingarten Realty Investors Andrew M. Alexander and Village Green Center at 2803 South State Road (Credit: Google Maps)

Weingarten Realty Investors Andrew M. Alexander and Village Green Center at 2803 South State Road (Credit: Google Maps)

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.


Related Articles

arrow_forward_ios
920-1934 Stirling Road in Broward and 510 Linton Boulevard in Delray Beach (Google Maps, iStock)

South Florida’s retail market weakens in Q3

South Florida’s retail market weakens in Q3
Seritage CEO Benjamin Schall, CTO CEO John Albright, and 1460 West 49th Street, Hialeah (Credit: Google Maps)

Seritage sells Hialeah shopping center for $21M

Seritage sells Hialeah shopping center for $21M
Multifamily project in Palm Beach County advances

Multifamily project in Palm Beach County advances

Multifamily project in Palm Beach County advances
Southland Mall, 20505 South Dixie Highway in Cutler Bay with JLL's Tom Hall and Danny Finkle (Google Maps, JLL)

Southland Mall’s troubled $65M CMBS loan for sale

Southland Mall’s troubled $65M CMBS loan for sale
From left: Chris Maling, Donald K. DeWoody Jr., David Maling, and Alfredo Sanchez

North Palm Beach mixed-use property hits the market for $45M

North Palm Beach mixed-use property hits the market for $45M
Raanan Katz and 10760 Northwest 17th Street in Sweetwater (Photos via RK Centers; Raanan Katz)

Miami Heat minority owner pays $20M for Sweetwater Best Buy

Miami Heat minority owner pays $20M for Sweetwater Best Buy
27359 South Dixie Highway and Longpoint Realty Managing and Founding Partner Dwight Angelini (Google Maps)

Longpoint buys Fresco Y Mas-anchored center in Naranja

Longpoint buys Fresco Y Mas-anchored center in Naranja
Neil Hirsch and Coach House (Getty)

Saddle up: Sales launch at Wellington luxury condo development aimed at polo players

Saddle up: Sales launch at Wellington luxury condo development aimed at polo players
arrow_forward_ios

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

Loading...