Integra Investments Acquires Lantana Village Square Shopping Center For $14.85M
1201 S Dixie Hwy Lantana, FL 33462, USA
$14,850,000
$90/SF
Building Size
164,951 SF
Asset Type
Retail
Closing
Jul 25, 2023
AI
Integra Investments has acquired the Lantana Village Square shopping center in Lantana for a price of $14.85 million. The property is spread across 18.6 acres and includes addresses at 1201, 1301 S. Dixie Highway, and 457 Greynolds Circle. The retail asset spans an area of 164,951 square feet with a price per square foot of $90. The buyer's representative in the deal was Victor Ballestas from Integra Investments, while the seller was Saglo Development. The transaction was financed by Bradesco Bank.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $14,850,000
- Address: 1201, 1301 S. Dixie Highway & 457 Greynolds Circle
- Market: Lantana
- Acres: 18.6
- Square Footage: 164,951
- Price Per Square Foot: $90
- Buyer: Integra Investments - Victor Ballestas
- Seller: Saglo Development
- Lender: Bradesco Bank
Integra Investments plans to revitalize a part of the shopping center, specifically the vacant Kmart space, into affordable apartments through the Live Local Act. This redevelopment initiative aims to provide modern multifamily housing for the local workforce in the area.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.07%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93