The Real Deal Miami

Fort Lauderdale shopping center trades for $14M

Plaza Del Mar on North Federal Highway sold to Miami company
July 10, 2014 11:15AM

Plaza Del Mar entrance

Plaza Del Mar entrance

The Plaza Del Mar retail center in Fort Lauderdale changed hands for nearly $14 million.

South Florida Residential of Pinecrest sold the 1451-1535 North Federal Highway center in a transaction recorded on Wednesday, according to Broward County records. The Simon Karam-managed company acquired the 33,469-square-foot building through foreclosure in February 2011. Plaza Del Mar was constructed in 1982.

Rorida LLC of Miami is the buyer. The company did not obtain financing for the acquisition. Attorney Mark Fried is identified in state corporate records as the manager of Rorida.

Tenants at Plaza Del Mar include Jimmy Johns, Joe’s Seafood Shack, Lime Fresh Mexican Grill and Metro PCS. The center traded for $10.5 million in January 2005. — Eric Kalis