{"id":1004198454,"date":"2017-11-28T23:52:01","date_gmt":"2017-11-29T07:52:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004198454"},"modified":"2021-05-15T04:31:34","modified_gmt":"2021-05-15T12:31:34","slug":"crec-arranges-13m-sunrise-retail-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/crec-arranges-13m-sunrise-retail-sale\/","title":{"rendered":"CREC Arranges $13M Sunrise Retail Sale"},"content":{"rendered":"
\"Aerial<\/a>

Aerial view of University Shoppes of Sunrise<\/p><\/div>\n

CREC has brokered the sale of University Shoppes of Sunrise, a 135,011-square-foot retail center in Sunrise, Fla. CPAC, a joint venture between CREC and members of the Lindemann family, sold the asset to Luxcom in a $12.6 million deal.<\/p>\n

Centennial Bank facilitated the transaction with approximately $7 million in acquisition financing, according to public records. Located at 3469 University Drive, the shopping center sits on a 13.2-acre site. CPAC acquired the property in 2012 through foreclosure. After purchasing the University Shoppes at Sunrise, CPAC repositioned the complex to execute a ground lease with Aldi for a portion of the property. In a similar deal, CREC closed the sale of Turtle Crossing<\/a> earlier this year.<\/p>\n

Bustling location<\/h2>\n

University Shoppes of Sunrise enjoys a heavily trafficked location with more than 100,500 vehicles per day at the intersection of University Drive and Oakland Park Boulevard. Directly across the street from the property is a Walmart to the east and a Lowe\u2019s Home Improvement to the south.<\/p>\n

CREC Vice President Andrew Remick and Aztec Group Managing Director Peter Mekras represented the seller in the transaction.<\/p>\n

Image courtesy of CREC<\/em><\/p>\n

If you\u2019d like to be featured in Brokers\u2019 Corner, send your deal to deals@cpe-mhn.com<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

CREC Vice President Andrew Remick and Aztec Group Managing Director Peter Mekras worked on behalf of seller CPAC in the transaction.<\/p>\n","protected":false},"author":240,"featured_media":1004190037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,1492,21742,21749],"tags":[36195,34272,34398,36399,32917],"class_list":["post-1004198454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-miami","category-latest","category-retail","tag-aldi","tag-aztec-group-inc","tag-crec","tag-lowes","tag-walmart"],"acf":[],"yoast_head":"\nCREC Arranges $13M Sunrise Retail Sale - 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\/crec-arranges-13m-sunrise-retail-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CREC Arranges $13M Sunrise Retail Sale\" \/>\n<meta property=\"og:description\" content=\"CREC Vice President Andrew Remick and Aztec Group Managing Director Peter Mekras worked on behalf of seller CPAC in the transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/crec-arranges-13m-sunrise-retail-sale\/\" \/>\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=\"2017-11-29T07:52:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T12:31:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Brokers-Corner-827x400-e1572550449239.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"531\" \/>\n\t<meta property=\"og:image:height\" content=\"399\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timea-Erika Papp\" \/>\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\/crec-arranges-13m-sunrise-retail-sale\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/crec-arranges-13m-sunrise-retail-sale\/\",\"name\":\"CREC Arranges $13M Sunrise Retail Sale - 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