Edens Pays $51M for South Florida Shopping Center
By Julia Echikson May 14, 2025 2:05 pm
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Edens bought a shopping center in Davie, Fla., for $51.3 million, marking a 59 percent gain in value for the 13-acre property, despite losing its biggest tenant in the past two years ago, records show.
Called Weston Road Shopping Center, the open-air complex spans 108,623 square feet at 4410 and 4484 Weston Road, by the corner of Griffin Road, just west of Interstate 75.
In the last two years, Office Depot closed its store, which remains vacant but formerly anchored the strip mall. Current tenants include Smoothie King, Crumbl, Weston Diner and T-Mobile.
The sellers — a joint venture between Cornerstone Real Estate Advisors and Barings, the real estate division of Massachusetts Mutual Life Insurance Company — purchased the complex for $32.3 million in 2014.
Broward County’s strong retail leasing market might explain the rise in the property’s value. At the close of 2025’s first quarter, the retail vacancy rate stood at 1.6 percent in the Southwest corner of Broward County, which covers Weston Road Shopping Center, according to data from Colliers.
Edens, which specializes in retail investments, owns 12 properties in the state, all in South Florida, including Fifth & Alton in Miami Beach and Market on University in nearby Plantation.
Representatives for Edens and Barings did not immediately respond to requests for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
