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
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.
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