Miami Heat minority owner’s firm buys Coral Springs shopping center for $37.5M
.png "The Turtle Crossing shopping center on State Road 7 in Coral Springs has a new owner, Broward County property records show.")
The Turtle Crossing shopping center on State Road 7 in Coral Springs has a new owner, Broward County property records show.
South Florida-based RK Centers purchased the property from Dallas-based Crow Holdings for $37.5 million, $5 million more than its last sale in 2021. The deal was finalized on April 16.
Turtle Crossing is the latest in a string of shopping center sales in Coral Springs:
- February: Turtle Run Shoppes
- December: Wings Plus-anchored property on W. Sample Road and Atlantic Crossings
- November: The Shoppes at Heron Lakes, a set of properties next to Coral Square Mall, and Royal Eagle Plaza
RK Centers, a growing player in Coral Springs commercial real estate, was founded by Raanan Katz, a longtime shopping center developer best known as an original partner of the NBA’s Miami Heat. He remains a limited owner and is often sitting courtside at home games along with his wife.
The acquisition adds over 70,000 square feet of retail space to RK Centers’ portfolio on the west side of the city, though it does not include the Super Target currently anchoring the center. Current tenants include Dollar Tree, Panera Bread and Kiddie Academy.
RK Centers also owns Coral Palm Plaza, with tenants including Michael’s, Doris Italian Market and the recently endangered University Drive Planet Fitness.
