Coconut Creek, FL

CBRE Announces $11.9 Million Sale of Lyons Plaza in Coconut Creek, Florida

03 Feb 2022

Lyons Plaza Monument

CBRE facilitated the $11.9 million sale of Lyons Plaza, a single-story, multi-tenant retail shopping center in Coconut Creek, Fla., to 1301 Lyons, LLC, a Florida-based entity managed by Steven Hudson and Charles Ladd.

David Donnellan and Patricia Friend with CBRE represented the seller, Lyons Plaza Coconut Creek, LLC, a Florida-based entity managed by Alberto Dayan, in the transaction.

The 80,361-square-foot property located at 1301-1509 Lyons Road includes two freestanding outparcel buildings. At the time of sale, Lyons Plaza was 91 percent leased to 27 retail tenants, including Conviva Care Center (Humana) and Goldcoast Ballroom, among others.

“This property is well-located in the densely populated, middle-income trade area of Coconut Creek/Margate,” said Mr. Donnellan, a Senior Vice President at CBRE. “The property offers substantial upside potential as the current rent roll is below market rental rates along with the opportunity to fill vacant space caused by the pandemic.”

“We are pleased to add this excellent property to our portfolio of Broward County retail assets,” said Steve Hudson. “The tenant mix at Lyons Plaza is strong and we look forward to working with existing tenants as well as filling the available space with new and exciting uses.”

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.