CREC, Lubert Adler Acquire Shopping Center in Coral Springs for $26M

CORAL SPRINGS, FLA. — CPAC Royal University LLC, a joint venture between principals of CREC and Lubert Adler Real Estate Funds, has closed on the $26 million acquisition of Royal University Plaza in Coral Springs. The shopping center is a 98,500-square-foot property located at 2556 N. University Drive. Royal University Plaza is currently 45 percent leased to tenants such as Petco, Nick’s New Haven Style Pizzeria & Bar, Jimmy John’s and Brooklyn Water Bagel Co. The new ownership group will implement a series of capital improvements to the shopping center. Alan Esquenazi and Sabrina Meerbott of CREC will oversee the retail leasing and marketing efforts of Royal University Plaza.