Coconut Creek, being one of the most dynamic cities in Broward County, is always full of agitators and promoters of properties, housing and real estate. Developments are always underway to make the city more competitive in terms of economic standards and more conducive to living. This February 2015, there are certain events that have had a great impact not only in the local real estate industry but also in other industries within the city. Here are some of them.
Village Shoppes sold out
One of the breaking news that will impact the city is the sale of the Village Shoppes. According to an article in the South Florida Business Journal, the property was sold for $19.6 million to a Coral Gables-based investor. This move was backed by Mercantil Commercebank, which financed a $10.15 million mortgage. Apparently, the property managed by Alex Sirulnik and Claudio Mekler sold for $365 per square foot.
Astonishing $23 million for the purchase of Broward plaza
Although the commercial property is outside the city limits, it is still a great lifestyle spot that many residents flock to for their needs. Anchored by Publix, a grocery and grocery store, and Home Depot, a one-stop shop for home design and improvement needs, it’s undeniable that Broward Plaza is an influential place for Coconut Creek residents.
Atlas Cypress Lakes reportedly purchased the Broward Plaza for $23 million from its owners. The 28.9-acre property is made up of three buildings each anchored by Publix, Home Depot and the third by Burger King. The property was worth $88 per square foot.
The Butterfly Festival starts on February 28
One of the most anticipated events in all of Coconut Creek is the Annual Butterfly Festival. During this day, many visitors from neighboring counties and even from other states are expected to visit the city. It is the perfect time for the city to show off its charm and beauty. It’s also a great time for homeowners who are selling their homes to post for sale signs right outside their properties. For this year, the festival conquers full schedules from 1:00 pm to around 8:30 pm
The heavy foot traffic created by the festival is also an opportunity for businesses, especially those in the accommodation and catering industries, to split their sales.
