CREC to Lease 500 KSF South FL Retail Portfolio
- Jan 19, 2018
CREC has landed the exclusive leasing assignment of four retail centers totaling nearly 500,000 square feet in South Florida, spanning from South Miami to Pompano Beach. The portfolio includes Greenery Mall in Kendall, Pinecrest Town Center in Village of Pinecrest, Palm Aire Marketplace in Pompano Beach and Ridge Plaza in Davie.
Accessible shopping centers
Located at 7700 N. Kendall Drive, Greenery Mall encompasses 129,514 square feet and was constructed in 1983. The retail center is home to notable tenants including T.J.Maxx & HomeGoods, Starbucks and Jo-Ann Fabrics. The location provides access to Palmetto Expressway and other major thoroughfares.
Pinecrest Town Center, a 60,484-square-foot property located at 12651 S. Dixie Highway, was completed in 1985. The asset boasts 305 feet of frontage along South Dixie Highway and provides ample surface and rooftop parking. Chase Bank, Roasters ‘N Toasters, Edible Arrangements and EWM Realtors International are among the retail center’s tenants.
The 140,312-square-foot Palm Aire Marketplace, built in 1998, is anchored by Winn-Dixie. Located at 299 S. Powerline Road, the property provides access and visibility on the southwest corner of North Powerline Road and West Atlantic Boulevard.
Ridge Plaza encompasses 155,204 square feet and is located at 8800 State Road 84. Completed in 1985, the center hosts a diverse group of retail, restaurant, entertainment and service tenants, including an eight-screen Paragon Theater. The location provides exposure to Interstate 595 and State Road 84.
Vice Presidents Rafael Romero and Ruben Suarez, alongside Sabrina Stimming, senior vice president & director of leasing, as well as Senior Leasing Associates Katie Fernandez-Espinosa and Ariel Bernstein, will spearhead marketing efforts at the properties.
In November 2017, CREC brokered the sale of University Shoppes of Sunrise, a 135,011-square-foot retail center in Sunrise, Fla. Centennial Bank facilitated the transaction with approximately $7 million in acquisition financing.
Images courtesy of CREC