{"id":1004143763,"date":"2016-05-11T01:47:55","date_gmt":"2016-05-11T09:47:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004143763"},"modified":"2020-04-07T01:31:15","modified_gmt":"2020-04-07T09:31:15","slug":"south-florida-mall-changes-hands-in-93m-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/south-florida-mall-changes-hands-in-93m-deal\/","title":{"rendered":"South Florida Mall Changes Hands in $93M Deal"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"Deerfield<\/a>

Deerfield Mall, Deerfield Beach, Fla.<\/p><\/div>\n

Miami\u2014<\/strong>Weingarten Realty Investors<\/a> has acquired Deerfield Mall, a 394,248-square-foot community shopping center located in the South Florida community of Deerfield Beach, for $92.75 million from CP Deerfield LLC and Land Trust Agreement 1001-SOD.\u00a0HFF\u00a0represented the sellers in the transaction.<\/p>\n

\u201cWeingarten’s acquisition of Deerfield Mall is consistent with our disciplined strategy to acquire dominant centers in high barrier to entry markets,\u201d Richard Carson, Weingarten Realty Investors\u2019 regional VP\u00a0of development and acquisitions, said in prepared remarks. \u201cThe center is anchored by a market-leading grocer and top-tier power center tenants and further strengthens our Florida portfolio of high-performing centers.\u201d<\/p>\n

Originally constructed in 1988 and renovated in 2001, The Publix-anchored center comprises one main building totaling 366,301 square feet in an \u201cL\u201d configuration, two multi-tenant outparcel buildings totaling 25,427 square feet and two single-tenant outparcels occupied by Citibank and Chick-fil-A.<\/p>\n

The center was 94.9 percent leased at the time of the sale. Its tenant roster includes Sports Authority, T.J. Maxx, Marshalls, Youfit Health Club, Cin\u00e9polis, Dollar Tree, Five Below, Ulta Beauty, The Avenue, Panera Bread, First Watch and Taco Bell.<\/p>\n

Located on approximately 43 acres at the \u201chard corner\u201d of the heavily-trafficked intersection of Hillsboro Boulevard and Powerline Road, which have combined traffic counts of more than 81,000 vehicles per day, the center serves a densely-populated and affluent customer base with approximately 323,995 residents within a five-mile radius.<\/p>\n

Weingarten Realty Investors now owns a total of 227 properties, which are located in 18 states, representing approximately 27.6 million square feet of leasable area.<\/p>\n

The HFF investment sales team representing the seller was led by senior managing director Daniel Finkle, managing director Luis Castillo and associate directors Nat Scarmazzi and Scott Wadler.<\/p>\n

Image courtesy of Weingarten<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The 394,248-square-foot community shopping center, located in South Florida’s Deerfield Beach, is currently anchored by Publix.<\/p>\n","protected":false},"author":451,"featured_media":1004143764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,1492,21742,21749],"tags":[],"class_list":["post-1004143763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-miami","category-latest","category-retail"],"acf":[],"yoast_head":"\nSouth Florida Mall Changes Hands in $93M Deal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/south-florida-mall-changes-hands-in-93m-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Florida Mall Changes Hands in $93M Deal\" \/>\n<meta property=\"og:description\" content=\"The 394,248-square-foot community shopping center, located in South Florida's Deerfield Beach, is currently anchored by Publix.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/south-florida-mall-changes-hands-in-93m-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-11T09:47:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-07T09:31:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/Deerfield-Mall-Deerfield-Beach-Fla..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"810\" \/>\n\t<meta property=\"og:image:height\" content=\"581\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-mall-changes-hands-in-93m-deal\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-mall-changes-hands-in-93m-deal\/\",\"name\":\"South Florida Mall Changes Hands in $93M Deal - 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