1755 N University Dr
Coral Springs, FL 33071
Amerant Bank - Coral Springs · Retail Property For Sale

This offering is for a net-leased Mercantil Commercebank, and an additional parcel with parking in Coral Springs, Florida. Mercantil Commercebank will occupy a 4,000 square foot building with a new lease which commenced on May 3, 2017. There are 20 years on the NN lease with minimal landlord responsibility of maintaining the roof and structure of the building, which was constructed in 2006. There are 10 percent rent increases every five years during the base and option terms. Mercantil Commercebank operates in Florida, Houston, Texas and New York. Mercantil Servicios Financieros (MSF), a Venezuelan company, beneficially owns the Bank through U.S. bank holding companies. MSF is the largest provider of financial services in Venezuela, with more than 90 years of experience and offices in the Americas and Europe. The property is located on North University Drive. It is the main north- south thoroughfare through western Fort Lauderdale . Traffic counts are 44,092 in front of the property. The area is a regional retail hub with University Drive being the core of development. Mercantil Commercebank is located midway between Coral Square Mall, a 941,000 square foot Macy' s and Kohl' s-anchored property owned by Simon and The Walk, a bustling 240,000-square-foot lifestyle destination. The University Drive corridor in Coral Springs has seen excellent retail success.