Investments Limited Buys Promenade at Coconut Creek From AEW in JLL-Arranged Sale
MIAMI, Nov. 12, 2026 — Investments Limited has acquired Promenade at Coconut Creek, a 296,419-square-foot open-air mixed-use lifestyle center at 4467 Lyons Road in Coconut Creek, Florida, from AEW. JLL Capital Markets announced that it arranged the sale and represented the seller.
JLL Capital Markets Team Led the Promenade at Coconut Creek Sale
The JLL Capital Markets team was led by Executive Managing Director Danny Finkle and Senior Director Jorge Portela, along with Vice President Kim Flores, according to the firm's announcement.
"Promenade at Coconut Creek stands apart as a true lifestyle destination that combines retail, dining, entertainment and office uses in a highly affluent South Florida location," Finkle said. "Investors were attracted to the property's unique market position, ongoing merchandising evolution and its ability to benefit from the significant growth taking shape around Coconut Creek."
Property Details: Retail, Office and Tenant Mix
Promenade at Coconut Creek sits on approximately 22.9 acres and is LEED Silver-certified. The property includes 249,429 square feet of retail space and 46,990 square feet of office space. Built in 2008, it was 76.6% leased at the time of sale and houses more than 40 retail, dining, entertainment, wellness and service-oriented tenants.
The center is anchored by Silverspot Cinema, DSW and Guitar Center. Other tenants include The Cheesecake Factory, Sephora, Cooper's Hawk Winery & Restaurants, LoveSac and Warby Parker. The Class A office component is anchored by Minto Communities. The property also has two structured parking garages with a total of 1,457 parking spaces.
JLL described the property as the only open-air mixed-use lifestyle center in North Broward County. It has direct access to Florida's Turnpike and the Sawgrass Expressway and is served by Fort Lauderdale-Hollywood International Airport and the Fort Lauderdale Executive Airport.
MainStreet Coconut Creek Adjacent to the Property
Immediately adjacent to the center is MainStreet Coconut Creek, a master-planned development of more than $1 billion. Upon completion, it is expected to deliver more than 2,360 residential units and a Whole Foods-anchored retail component. The city's development agreement for the project allows for as much as 225,000 square feet of commercial development.
South Florida Retail Market Context
South Florida retail fundamentals have remained favorable in 2026. The market recorded approximately 508,000 square feet of positive net absorption in the second quarter, with a 3.5% vacancy rate, annual rent growth of 2.8% and average asking rents of $36.50 per square foot. Third-quarter data showed vacancy at 3.5% and average asking rents of $36.87 per square foot, while Broward County asking rents were $27.65 per square foot. Florida retail vacancy has stayed below 4% since 2021, and statewide asking rents rose 2.1% year over year in the latest market report.
Investment pricing has varied more. South Florida retail sales in the second quarter averaged approximately $387 per square foot with an average cap rate of 6.62%, compared with $407 per square foot and a 6.05% cap rate in the first quarter. Third-quarter figures showed a marketwide average cap rate of 5.51%. South Florida also had approximately 2.44 million square feet under construction in the second quarter.
Promenade's 76.6% lease rate compares with the market's 3.5% vacancy rate. Based on the property's stated gross area, the lease rate implies roughly 69,300 square feet of space that was not leased at the time of sale, an approximation because the leasing denominator was not specified.
About the Parties
Investments Limited is one of South Florida's largest privately held real estate ownership and management companies, with a $5.5 billion portfolio spanning retail, office, industrial, residential and hospitality properties. Founded in 1970 by James and Marta Batmasian, the family-owned company is headquartered in Boca Raton and owns and manages more than 4,300 commercial spaces and 4,200 residential rentals across South Florida and Massachusetts.
AEW Capital Management, L.P., which has provided real estate investment management services for 45 years, and its affiliates manage $83.7 billion in private real estate equity, debt and listed securities across North America, Europe and Asia as of June 30, 2026.
JLL's Capital Markets group is a full-service provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists worldwide and offices in nearly 50 countries.
Outlook for Coconut Creek Retail
JLL said the acquisition positions the buyer to capitalize on continued growth around Coconut Creek's evolving mixed-use district and one of South Florida's most affluent consumer corridors.