Coral Springs Eckerd Sells for $6M

CORAL SPRINGS, FL-University Capital LLC has purchased a freestanding Eckerd drug store in the city for nearly $5.7 million. The price equates to approximately $403.95 per sf.Southern Management and Development LP was the seller of the 13,987-sf store, which is located on a 2.5-acre site at the northeast corner of University Drive and Royal Palm Boulevard. Southern Management and Development developed the store last year after demolishing a former Sizzler restaurant building on site.Southern Management and Development owns and manages retail centers, apartments and warehouses, and also develops sites for retailers. It owns and manages 35 shopping centers with more than 4.5 million sf of space in Florida, Tennessee and Indiana. The company’s portfolio also consists of 2,400 rental apartment units in Florida, Tennessee and Kentucky.