Story Highlights
- Nuveen acquired Coral Landings III retail center for $46.3 million.
- Sterling Organization sold the property for $268 per square foot.
- Broward County retail vacancy rate rose to 4.1% in first quarter.
Real estate giant Nuveen acquired the Coral Landings III retail center in both Margate and Coral Springs for $46.3 million.
SVAP III Coral Landings LLC, part of West Palm Beach-based Sterling Organization, sold 172,526 square feet of retail at 6166 to 6208 W. Sample Road, plus 3200 N.W. 62nd Ave. to NSRP I Coral Landings LLC, care of Nuveen Real Estate. Bank of America provided the buyer with a $52.2 million loan that also covered properties in other states. Property data firm Vizzda confirmed the parties in the deal.