Broward shopping centers sell for about $100 per square foot

Miami /
Jan.January 23, 2016 11:30 AM

Commercial brokerage Marcus & Millichap announced the sales of shopping centers in Lauderhill and Pompano Beach for a total of $14.2 million.

Marcus & Millichap said a partnership in Plantation bought both properties, with a combined total of 140,678 square feet, for about $100 per square foot.

The 74,575-square-foot Palm Plaza in Pompano Beach sold for $7.5 million. The mixed-use property is home to two retail buildings, an Enterprise outparcel, a gas station and an industrial/flex building. Palm Plaza is located at at 2450 North Powerline Road in Pompano.

Oakbrook Plaza in Lauderhill, which has 66,103 square feet, fetched $6.7 million. The tenants include a Dunkin’ Donuts franchise. The Lauderhill location at 7121-7229 West Oakland Park Boulevard is about a mile east of University Drive and a mile west of Florida’s Turnpike.

Douglas K. Mandel, senior vice president, investments, at the Fort Lauderdale office of Marcus & Millichap, said in a press release that “these transactions are indicative of the surge in investor interest for multi-tenant properties in Broward County. The heightened competition for quality assets has pushed buyers to consider centers outside the city of Fort Lauderdale.”


Related Articles

arrow_forward_ios
Avery Pompano Beach apartments with Yaakov Frankforter of Frankforter Group (LinkedIn via Frankforter, Avery Pompano Beach)
Frankforter Group buys Pompano Beach apartments for $43M
Frankforter Group buys Pompano Beach apartments for $43M
(Cypress Grove Apartment Homes)
FBE buys Lauderhill apartment complex for $95M
FBE buys Lauderhill apartment complex for $95M
Axonic's Jonathan Shechtman and Breezes at Palm-Aire (Berkadia)
Axonic Properties buys Pompano Beach condos in $25M bulk purchase
Axonic Properties buys Pompano Beach condos in $25M bulk purchase
Movers & Shakers: CBRE hires two senior vice presidents & more
Movers & Shakers: CBRE hires two senior vice presidents & more
Movers & Shakers: CBRE hires two senior vice presidents & more
Rendering of the Sonata Apartments (Burgos Lanza, iStock)
Cornerstone wins approval for mixed-income apartment complex in Pompano Beach
Cornerstone wins approval for mixed-income apartment complex in Pompano Beach
Harlan Goldberg, Ricardo Esteves and Jacky Sasson
Movers & Shakers: Bespoke promotes managing director & more
Movers & Shakers: Bespoke promotes managing director & more
Jorge and Jon Paul Perez with a rendering of the project (Getty, Related Group)
Related wins approval for another Wynwood mixed-use multifamily project
Related wins approval for another Wynwood mixed-use multifamily project
Cobblestone Commons at 8767 Boynton Beach Boulevard (Google Maps)
Tricor Financial sells Winn-Dixie-anchored Cobblestone Commons near Boynton Beach for $38M
Tricor Financial sells Winn-Dixie-anchored Cobblestone Commons near Boynton Beach for $38M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...