MIAMI-The 284,000-sf, 18-acre Universal Plaza shopping center, at the southwest corner of Commercial Boulevard and University Drive in Lauderhill, FL, has been sold by Principal Mutual Life to Boca Raton-based Woolbright Development for $7.63 million or 26.87 or per sf.

Miami’s Terranova Corp. negotiated for the seller. The buyer represented itself.Woolbright is assuming leasing and management duties formerly handled by Terranova.

Separately, Terranova has raised the occupancy level of the 100,000-sf First Union Building at 12550 Biscayne Blvd. in Miami to 96% from 80%. Terranova negotiated seven new leases with an aggregate value of $2.1 million.

The new tenants are Metro Media Fiber Networks, the Alexander Muss High School in Israel, Preferred Mortgage, Destiny Resorts International, Afton Corp., Alliance Business Supply and America System Care.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.