BTI scores almost half of the Young Circle Hollywood!
1740 to 1760 South Young Circle, Hollywood
Publicly held Regency Shopping Centers sold the 3.25-acre Young Circle Shopping Center on the east side of Hollywood’s Young Circle for $4.8 million per acre. Fort Lauderdale firm plans to build a major mixed-use development.
The 64,574-square-foot shopping center previously was anchored by a 24,318-square-foot grocery store that Publix had operated since 1961. Walgreens still operates a store at the shopping center, but the vacancy rate increased after Publix relocated its grocery store in downtown Hollywood to the nearby Hollywood Circle mixed-use development in 2018.
BTI Partners also is under contract to purchase another commercial property on the southeast side of Young Circle called the Hollywood Bread Building. BTI would demolish the building and develop a high-rise apartment building with ground-floor retail space on the site.
The combined cost of redeveloping both properties would be about $500 million and would represent the largest redevelopment effort west of the Intracoastal Waterway in Hollywood’s history, wow!
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