Houston-based Weingarten Realty Investors bought the trophy property from joint owners AMB Property Corp. of San Francisco and Miami-based Lefmark Group.
The parties declined to give the sales price but area brokers intimate with the deal tell GlobeSt.com on condition of anonymity Northbridge went for at least $150 per sf or about $35 million.
The property went for the high-end price because it was "a unique offering of a trophy retail asset located in one of Broward County's hottest retail submarkets, East Fort Lauderdale," according to Mark Gilbert, senior director/financial services, Cushman & Wakefield of Florida Inc., Miami. "Retail assets in this submarket are highly coveted but rarely come up for sale."
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