Edens Acquires Shadowood Square Retail Plaza In Boca Raton For $88.4M
9789 Glades Rd Boca Raton, FL 33434, USA
$88,400,000
$338/SF
Building Size
261,000 SF
Asset Type
Retail
Closing
Aug 15, 2023
About this deal
AI
Edens has purchased the Shadowood Square shopping plaza near Boca Raton for $88.4 million from a partnership led by Evelyn Langlieb Greer. The plaza, located at 9789 Glades Road, spans 29 acres and consists of 261,000 square feet of retail space. The transaction reflects a price per square foot of $339. Edens plans to redevelop the plaza in line with its focus on retail real estate.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $88,400,000
- Address: 9789 Glades Road
- Market: Boca Raton
- Acres: 29
- Square Feet: 261,000
- Price per Square Foot: $339
The buyer, Edens, made the acquisition with Jodie McLean leading the deal. Mark Gilbert and Adam Feinstein of Cushman & Wakefield represented the seller, Evelyn Langlieb Greer. The purchase of the Shadowood Square shopping plaza aligns with Edens' strategic vision for retail property redevelopment.
On the Map
$88,400,000
$338/SF
Retail
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Players
Boca Raton 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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93