Press Release (ePRNews.com) - PEMBROKE PINES, Fla. - Jul 21, 2017 - Current Capital Management announced today that it negotiated and closed the purchase of another retail shopping center in the South Florida market. The multi-anchor University Marketplace is a 150,000-square-foot retail center located in Pembroke Pines, Florida was purchased for a total of $21.25 Million. Todd Nepola, President of Current Capital Group, facilitated the transaction. Current Capital Management will provide full management and leasing services for the shopping center.
Originally constructed in 1991, University Marketplace is located on the Southwest corner of the heavily trafficked University Drive and Pines Blvd intersection within an established, densely populated trade area. University Marketplace was 98% leased at the time of purchase to a diverse blend of national and local tenants led by Café Iguana, Dollar General, Fallas and Beverly’s Pet Center.
“University Marketplace is well-situated on a busy intersection that sees over 100,000 vehicles per day, positioning it as one of the premier multi-anchor shopping centers serving its submarket based on its prime location and strong tenant line-up,” said Nepola. “This well-maintained shopping center has well-established tenants and is ideally located in its region, making it a prime example of the type of retail acquisitions we continue to look to add to our portfolio.”
About Current Capital Management
Current Capital Management (CCM) is a division of the Current Capital Group which specializes in the management and development of income producing real estate. With over 20 years of experience, their focus is on commercial, retail, office, and income producing residential properties. For more information about CCM and Current Capital Group, visit http://www.currentcapitalgroup.com
Current Capital Management