Barry Wolfe, left, and Alan Lipsky, right. Photos: ALM/File

CORAL SPRINGS, FL—Barry Wolfe brought the Plaza at Coral Springs to market shortly after the height of the recession. While the shopping center was one of the few properties in the area that stayed occupied during the economic downturn, it was a tough time to sell. Interest came and went, yet no deal was inked, according to an article written by GlobeSt.com sister publication, ALM's Daily Business Review.

According to the article, the 92,968-square-foot plaza is anchored by a movie theater, and investors often avoid theater-anchored properties for fear of replacing such a large, big-box tenant in the future, said Wolfe, senior vice president of investments in Marcus & Millichap's Fort Lauderdale office. Back then, the center also carried debt that would have to be assumed.

The property was taken off the market.

When Wolfe and Fort Lauderdale associate Alan Lipsky began marketing the property for a second time this year, about 10 offers flew in.

The brokers successfully closed a $17.74 million deal with 35 Oak US 5 Inc., the same Toronto-based buyer that expressed the most interest five years ago. The strongest interest came from the Canadian buyer and a Russian investor, Wolfe said.

To read more about the opportunity and the buyers, click here for the full story.

The property was taken off the market.

When Wolfe and Fort Lauderdale associate Alan Lipsky began marketing the property for a second time this year, about 10 offers flew in.

To read more about the opportunity and the buyers, click here for the full story.

Instant Insights /

Brokers Find Retail Interest Years After Initial Coral Springs Listing

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