Atlantic Crossings shopping center sells for $40.5 million showing growing investor confidence in Coral Springs commercial real estate market
Coral Springs, Florida – A major transaction in Coral Springs’ commercial real estate scene has captured attention, as the Atlantic Crossings shopping center changed hands for $40.5 million. The property, a 197,000-square-foot retail hub anchored by Whole Foods and Home Depot, was sold by Atlantic Crossing ADP LLC, part of Chicago-based Allied District Properties, to an affiliate of Coral Gables-based Maven Real Estate.
Recent property records indicate that Maven financed the purchase with a $22.27 million bank loan, highlighting the scale of the investment and the confidence in the property’s long-term potential. The sale not only marks a significant financial achievement for the seller but also reflects the enduring appeal of retail properties in well-established suburban areas of South Florida.
“This represents a major long-term gain for the seller,” said industry observers, noting that the center was last sold in 1995 for $13.37 million. Over the past three decades, Allied District Properties realized more than a 200% return, demonstrating the value of investing in stable, high-traffic retail locations.
The Atlantic Crossings deal also aligns with a broader trend in Coral Springs, where investor activity in commercial real estate has remained robust. Other local centers, including the Shoppes at Heron Lakes and Royal Eagle Plaza, have recently sold for $53.7 million and $60.5 million, respectively. These transactions, coupled with Maven’s acquisition, suggest that both institutional and large private investors view Coral Springs as a strong market, supported by consistent household incomes and favorable demographics.
Despite the high-profile nature of the sale, the $205 per square foot price was below the typical range for retail properties in north Broward, where prices generally fall between $315 and $336 per square foot. Broward County averages around $337 per square foot, with prime coastal and downtown locations sometimes reaching $450 per square foot. Analysts note, however, that the relatively lower price likely reflects the property’s status as a stable, long-term income generator. Anchored by necessity-based retailers such as Whole Foods and Home Depot, the center benefits from a level of protection against the pressures of e-commerce that many other retail properties face.
Industry insiders emphasize that these types of investments are appealing because they combine stability with predictable returns. “Necessity-driven tenants provide a reliable revenue stream,” noted a market analyst, highlighting the draw of shopping centers that meet essential consumer needs.
For Maven Real Estate, the acquisition of Atlantic Crossings strengthens its footprint in South Florida and positions the firm to benefit from both the steady cash flow of existing tenants and potential future development opportunities. The transaction further illustrates the continued investor confidence in Coral Springs, a city that has seen a consistent rise in retail activity over recent years.
As commercial real estate markets across the region adjust to evolving consumer trends and economic shifts, the sale of Atlantic Crossings serves as a reminder that well-located, anchored retail centers remain highly sought-after assets. For investors, Coral Springs offers a combination of long-term stability, strong demographics, and a retail environment that continues to attract both national and regional players.
The Atlantic Crossings deal, with its impressive return history and strategic positioning, may set the tone for future transactions in the area, signaling that Coral Springs remains a compelling market for those seeking resilient and profitable commercial real estate investments.
