TREIS Closes $43M FL Portfolio Sale

The properties included the Waterway Shoppes retail center, as well as the Heron Bay III and Heron Bay IV office buildings, all located in Coral Springs.
Heron Bay portfolio

Tiktin Real Estate Investment Services (TREIS) has closed the $43 million sale of the Heron Bay Office and Retail Portfolio, located in Coral Springs, Fla. This features Waterway Shoppes, Heron Bay III and Heron Bay IV. 

Located at 5810, 5830 and 6230-6240 Coral Ridge Drive, the three buildings were constructed by the sellers in 2006 and 2008, and are fully occupied by a mix of tenants. The assets are part of the City of Coral Springs’ 22-acre master-planned project and feature the 40,258-square-foot retail center, and the two Class A office buildings totaling 90,727 square feet. 

TREIS President & Broker Adam Tiktin and Investment Associate Alejandro Snyder represented the sellers, M-NA HB Three Office Building LLC, RM-NA Four Office Building LLC and RM-NA HB Waterway Shoppes LLC, in the all cash deal. Asuman 57th Street LLC acquired the properties. 

“At the time of closing, this Heron Bay Office/Retail Portfolio was one of the largest assets in the Ross/Matz Portfolio. They entrusted us with this exclusive listing because of our collective experiences working together in the past, and they have seen us closing significant transactions in the marketplace,” Tiktin told Commercial Property Executive.

TREIS has been busy arranging the sales of numerous properties throughout Florida. Others included Strayer University in Miramar, Starbucks in Pembroke Pines, Village Shoppes in St. Lucie and Indian Trace Commons in Sunrise. Last October, the company served as the exclusive listing agent for the $32 million sale of Nova Southeastern University’s North Miami Beach Campus, a 360,804-square-foot complex. 

Image courtesy of Tiktin Real Estate Investment Services