Woolbright Sells Most Of Miramar Square For $57 Million

Woolbright-managed WMD Miramar LLC on Friday sold most of Miramar Square for $57.27 million, according to Broward County records.
The buyer of the 153,820-square-foot shopping center, which was built in 2008, is Inland Diversified Miramar Square LLC of Oak Brook, Illinois. Inland Diversified is a non-traded public real estate investment trust that focuses on buying and developing commercial real estate in the United States and Canada, according to the company’s website.
The transaction did not include all of Miramar Square, which totals 240,000 square feet. The center is anchored by Kohl’s Department Store and Staples. The Kohl’s parcel was not part of the sale.
Other expensive retail sales by Woolbright this year include the $75 million sale of Glades Plaza in Boca Raton on May 25 and the $52 million sale of the Shoppes at Woolbright in Boynton Beach on March 14.
Woolbright also resolved a lingering foreclosure case in March by turning over the deed to the MSW Intracoastal Mall in North Miami Beach.
The company began an aggressive era of South Florida property selling in December 2010 with the $95 million sale of the London Square complex in west Kendall.
 
Source:  DBR