Woolbright Development Inc., a Boca Raton, Fla.-based owner and developer of shopping centers, set a company record by completing more than $100 million in acquisitions. The company bought eight centers in Florida with a combined area of 1.1 million square feet. The properties ranged in size from the 219,974-square-foot Wekiva Riverwalk in Apopka to the 83,192-square-foot Bloomingdale Plaza in Brandon.
Not content to sit on its laurels, the firm has already acquired two more centers in the third quarter. It has purchased the 180,000-square-foot Valencia Square development in Boynton Beach and the 71,172-square-foot Cascades in Tampa.
“This year, Woolbright has surpassed all growth expectations in a challenging real estate market and I expect we will surpass this second year record in the third quarter,” says Duane Stiller, president of Woolbright Development Inc. “We are definitely bullish on the retail market in Florida based on the state's 10-year population growth outlook.”