Franklin Street, CBRE Negotiate $23.2M Sale of Shopping Center in South Florida
CORAL SPRINGS, FLA. — Franklin Street and CBRE have arranged the $23.2 million sale of Magnolia Shoppes, a 114,118-square-foot shopping center in the South Florida community of Coral Springs. Bryan Belk and John Tennant of Franklin Street arranged the transaction on behalf of the buyer, a private investor based in Lexington, Ky. Casey Rosen and Dennis Carson of CBRE represented the seller, Regency Centers. In addition, Franklin Street arranged a $15.5 million acquisition loan through Citibank on behalf of the buyer. A recently renovated Regal Cinemas anchors Magnolia Shoppes, which was fully leased at the time of sale. Additional tenants include Dollar Tree, Ben & Jerry’s, Broward Health, Creative Child Learning Center, H&R Block and W Salon & Spa.