National Commercial Real Estate News From CoStar Group
Duke Realty Sells Shops at Pembroke Gardens for $188M
Duke Realty Corporation (NYSE: DRE) has sold the Shops at Pembroke Gardens located at SW 5th St. in Pembroke Pines, FL to an institutional joint venture and equity partner for $188 million, or about $480 per square foot.
The 391,120-square-foot lifestyle center was built in 2008 in the Southwest Broward County submarket, at a heavily-traveled I-75 and Pines Blvd. interchange, southwest of Fort Lauderdale. The well-positioned asset was 90 percent...