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Florida & Gulf Coast  + South Florida  + Retail  | 
The Arena Shoppes retail complex in North Lauderdale, FL has been sold for $31 million.

North Lauderdale Retail Center, Arena Shoppes, Trades for $31M

CBRE has secured $20.8 million in acquisition financing for Arena Shoppes, a 130,558-square-foot retail center in North Lauderdale, FL. The property sold for $31 million.

Dennis Carson, Casey Rosen, David Donnellan and Patricia Friend with CBRE represented the seller.

Paul Ahmed and Mackenzie Lampman also with CBRE represented the borrowers, Arena Shoppes NL, LLC, and Lyons Plaza CC, LLC, to arrange a 10-year, fixed-rate loan from a regional bank.

Quickly rising interest rates accelerated the loan closing as the lender was only willing to hold a very favorable rate for a short period of time. The loan also included additional funding for the development of a vacant outparcel located on the site.

 “The acquisition of Arena Shoppes illustrates the continued demand for high-quality value-add retail properties in South FL,” said Ahmed. Arena Shoppes features 20 tenants and is fully leased, although several tenants are still building out their spaces.

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CBRE's Ahmed

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition