Franklin Street, CBRE Arrange $23.2 Million Sale of Magnolia Shoppes in South Florida

by Camren Skelton

Coral Springs, Fla. — Franklin Street and CBRE have arranged the $23.2 million sale of Magnolia Shoppes, a 114,118-square-foot shopping center in the South Florida community of Coral Springs.

Bryan Belk and John Tennant of Franklin Street arranged the transaction on behalf of the buyer, a private investor from Lexington, Kentucky. Casey Rosen and Dennis Carson of CBRE represented the seller, Regency Centers. In addition, Franklin Street arranged a $15.5 million acquisition loan through Citibank on behalf of the buyer. A recently renovated Regal Cinemas anchors Magnolia Shoppes, which was fully leased at the time of sale. Additional tenants include Dollar Tree, Ben & Jerry’s, Broward Health, Creative Child Learning Center, H&R Block and W Salon & Spa.

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