Walmart Neighborhood Market-Anchored Retail Property Changes Hands

CBRE arranged the sale of North Hills Square, a 63,829-square-foot, Walmart Neighborhood Market-anchored shopping center located at 4650 University Drive in Coral Springs.
Inland Income Real Estate Trust acquired the property from an affiliate of the Dizengoff Group for $11,050,00. Casey Rosen and Dennis Carson of CBRE co-represented the seller along with Avison Young.
“The buyer was looking for a stable, unlevered, high-quality asset with solid demographics and this property matched that criteria,” said Mr. Rosen.
Located at the intersection of University Drive and Wiles Road, North Hills Square is anchored by a 52,024-square-foot Walmart Neighborhood Market which assumed a former Winn-Dixie location. At the time of sale it was 98% leased to national/regional non-anchor tenants including Manhattan Bagel, Little Caesars and Wendy’s on a ground lease.
Rosen and Carson lead CBRE’s National Retail Investment Group team for Florida from Miami.