The sale of Woodbridge Plaza, a mixed-use shopping center in Greenacres, Florida has sold in a $5.375 million deal to an affiliate of Southern Management & Development. Located at 6601 Forest Hill Boulevard, the property consists of a total of 54,707 sqf, which includes 16,182 sqf of office space on the second floor. Center tenants include Goodwill Industries, Precision Dance Conservatory, All Bird Clinic, and South Florida Dentistry. Two outparcels, occupied by Walgreens and McDonald’s, were not included in the sale. The seller, AMCO Properties, hired CBRE to market the asset for sale and negotiate the transaction.
“Woodbridge Plaza attracted substantial interest due to its location at a major intersection in Palm Beach County as well as an offering price well below replacement cost,” said David J. Donnellan, Senior Vice President with CBRE. “While the tenancy consists of predominantly smaller local companies, a solid base of professional and service-oriented businesses has operated at the center for several years.”
