The 69,000-sf Coral Shores is at the intersection of Pine Island Road and Burnt Store Road in Cape Coral. The Publix-anchored center is located in a fast-growing area with high traffic counts and expanding work force. The area's population is expected to grow 8% per year over the next five years.
The 79,000-sf Lakeside Town Shops is a new development at the corner of University Drive and Stirling Road in Davie. It is shadow-anchored by SuperTarget and includes 16 retailers, including OfficeMax. It is located near Monterra, a residential development that is expected to bring approximately 2,000 new homes to the area over the next several years.
The acquisitions bring the company's South Florida portfolio to 11 shopping centers. Among other shopping centers the company owns in the area include the 56,276-sf Beachway Plaza in Dania Beach, the 52,450-sf Eureka Plaza in Miami and the 34,087-sf North Delray Commons in Delray Beach.
"We began expanding into South Florida in 2006 and since then have been very selective and methodical in building our presence here," Edens & Avant vice president-South Florida Jami Passer says in a released statement. "The compelling growth demographics and strong economics of these centers match our model."
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