CBRE Arranges Sale, Financing for FL Retail Center
- Mar 05, 2019
CBRE has arranged the sale and financing of Wellington Green Square, a retail center in Wellington, Fla. Casey Rosen and Dennis Carson represented the seller and Doug McFadden represented the buyer in the transaction. The Debt & Structured Finance team of Paul Ahmed and Erin Efstathion arranged a $16 million fixed-rate loan on behalf of the buyer.
Located at 10640 Forest Hill Blvd., the 90,658-square-foot asset is anchored by The Fresh Market. The 2005-built property comprises one in-line shop building and two single-tenant outparcels. Additional tenants include dining and banking such as Kirkland’s, Pyure Salon, Engel & Volkers, City Mattress, Douglas Elliman, Mellow Mushroom and Bank of America. The property is within close proximity to U.S. Highway 441 and State Road 7.
“Wellington is one of Palm Beach County’s most successful and affluent planned communities,” said Rosen, executive vice president at CBRE, in a prepared statement. “Wellington Green Square is part of the dynamic Wellington regional retail concentration, which makes the retail center an outstanding investment for new ownership as they capitalize on the area’s economic growth.”
Back in November, Rosen and Carson facilitated the $78.2 million sale of Downtown Dadeland, a 126,000-square-foot retail center in Miami, on behalf of the sellers, a joint venture between Duncan Hillsley Capital and Pebb Capital.
Image courtesy of CBRE