Coconut Creek, Fla. — AEW Capital Management L.P. has acquired Promenade at Coconut Creek, a 297,557-square-foot LEED Silver certified lifestyle center.
The property is located in Coconut Creek, roughly 40 miles outside of Miami. The center is comprised of 250,060 square feet of retail and 47,497 square feet of office space, and is anchored by an 11-screen Silverspot Cinema and Guitar Center.
Other tenants at the 89 percent occupied property include DSW, Charming Charlie, Starbucks Coffee, J. Jill, New York & Co., Lane Bryant, World of Beer, Chico’s, Cold Stone Creamery, Cooper’s Hawk Winery, Jos. A. Bank and Sur La Table.
Luis Castillo, Daniel Finkle and Nat Scarmazzi of HFF represented the seller, an entity controlled by Garrison Investment Group, in the transaction. Chris Drew and Brian Gaswirth of HFF secured acquisition financing for the property on behalf of AEW. The fixed-rate loan was placed through Wells Fargo Bank.