Q.V.H. Corporation picked up a grocery retail store-anchored searching centre in Coral Springs for $21.3 million.
An affiliate of Q.V.H., a Miami-dependent business real estate firm led by president Rolando Hernandez, obtained Cypress Run Market at 10599-10667 West Atlantic Boulevard, documents and Vizzda exhibit. The purchaser acquired an $8 million mortgage loan with U.S. Century Bank to partially finance the invest in.
A CBRE staff led by Dennis Carson and Sriram Rajan represented the seller, an affiliate of Baltimore, Maryland-primarily based Continental Realty Corp. In 2015, Continental paid out $13.6 million for the 85,247-square-foot searching heart anchored by a Walmart Community Market place, data present. Cypress Run Marketplace was completed in 1989.
The procuring center was entirely occupied at the time of sale, a push launch states.
All through its ownership of Cypress Operate Market, Continental crammed 17,000 sq. ft with new tenants like Really hard Training Will work, Pittsburgh Paints, USK Karate Academy, Beard 2 Beard Barber Store, Sabeena Yoga and Kitchen area Bathtub & Additional. Past 12 months, Continental designed an outparcel on the 9.6-acre web site, leasing it to Popeyes Louisiana Kitchen, the press launch states.
Outside purchasing centers in South Florida are in sizzling demand. Recently, Raanan Katz’s RK Facilities paid $38 million for 1600 Commons, a 65,338-buying middle anchored by Trader Joe’s and Nordstrom Rack in Fort Lauderdale. Also this month, Sarasota-centered Benderson Growth obtained Linton Commons, a Delray Beach retail plaza featuring RH Outlet, Guitar Centre and PetSmart as tenants, for $28 million.
In September, Apollo Realty Profits Remedies dropped $56 million for the absolutely leased, Publix-anchored 16000 Pines Industry buying plaza in Pembroke Pines. Coconut Grove-dependent Terra, 1600 Pines’ developer, marketed the house.
The prior month, Chicago-dependent Bucksbaum Properties made its 1st business real estate buy in Florida by getting Juno Beach’s Plaza La Mer. Bucksbaum paid $27.1 million for the 120,152-sq.-foot retail plaza with a tenant roster that involves Dunkin’ Donuts and Tire Kingdom.
