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Principal Mutual Sells Retail Asset to Woolbright for $7.63 Mil

MIAMI-The Boca Raton-based buyer pays $26.87 per sf for the 284,000-sf Universal Plaza shopping center at the southwest corner of Commercial Boulevard and University Drive in Lauderhill, FL, about 15 miles north of Downtown Miami.

By Harold Kelman | Updated on September 15, 2000

MIAMI-The 284,000-sf, 18-acre Universal Plaza shopping center, at the southwest corner of Commercial Boulevard and University Drive in Lauderhill, FL, has been sold by Principal Mutual Life to Boca Raton-based Woolbright Development for $7.63 million or 26.87 or per sf.

Miami’s Terranova Corp. negotiated for the seller. The buyer represented itself.Woolbright is assuming leasing and management duties formerly handled by Terranova.

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