REIT picks up three retail centers

Colonial Properties adds 521,000 square feet in Florida

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

Colonial Properties Trust has acquired three retail centers totaling 521,000 square feet in South Florida.   The value of the transaction was undisclosed.   The 371,000-square-foot Deerfield Mall is located in Deerfield Beach, Fla., south of Boca Raton. With a current occupancy of 95 percent, the property is anchored by Publix, Walgreens, Marshall's, Sports Authority, TJ Maxx and OfficeMax.   With 100 percent occupancy, the 82,000-square-foot College Parkway property is located in Fort Myers, Fla., and includes such tenants as Office Depot and the Blue Pepper Market. Pines Plaza, 100 percent occupied, is a 68,000 square foot center and is anchored by Comp USA, Office Depot and Sound Advice.   The properties will be renamed Colonial Promenade Deerfield, Colonial Shoppes College Parkway and Colonial Shoppes Pines Plaza.  Colonial Properties Trust is a diversified real estate investment trust. *** What's your opinion? Send your Letter to the Editor to newsroom...