Part Of New FL Shopping Center With A First Watch, Culvers & Cali Coffee Just Sold For $18.5 Million

Photo byCorey Coyle, CC BY 3.0, via Wikimedia Commons

If you are a Floridian, you know it's common to shop and eat in a shopping center that includes both retail shops and eateries. These aren't large malls. Rather, they provide Floridians a sort of one-stop-shop where they can easily visit several places from one parking lot. That said, these shopping centers can change hands for various reasons. I recently wrote about Florida's The Fountains selling for a loss. But another Florida shopping center - The Shoppes at Monterra Commons - just sold a mere year after opening.

About The Shoppes at Monterra Commons: In December of 2021, it was announced that The Shoppes of Monterra Commons, a 100,000-square-foot venture in Fort Lauderdale's Cooper City, would begin construction at an estimated cost of around $10 million. Planned tenants were Huey Magoos, Culver's, Crunch Fitness, First Watch, and Cali Cafe.

The 16.61-acre project was expected to offer more than 700 parking spots.

First Watch, Culver's, and The Learning Experience opened in The Shoppes in October of 2023, while Huey Magoo's and Cali Coffee had signed leases.

A reviewer named Ariel wrote of The Shoppes on Yelp, in part:

"...It is interesting to see new development come to what I considered a dead-end area of Cooper City. It was only a matter of time before this last large parcel of Broward County was developed. Hopefully, Cooper City residents are going to like what they put in..."

The Sale: In July of 2024, it was announced that four of five buildings that make up the Shoppes sold for $18.5 million or $569 per square foot. The shopping center is reportedly 100% leased.

A fifth building and the parking lot were not included in the deal as the parking lot was reportedly recently deeded to a nonprofit community association.

The author is not affiliated with The Shoppes at Monterra Commons or any other shopping centers.