Partnership sells strip mall in Deerfield Beach for $13M

The partnership bought the property in 2015 for $10.5M

TRD MIAMI /
Sep.September 15, 2017 05:00 PM

The Shoppes of Hillsboro Inset: Malcolm Butters and Sukrit Agrawal

Malcolm Butters, CEO of Coconut-Creek based Butters Construction and Development and Sukrit Agrawal, CEO of American Purchasing Services, sold a strip mall in Deerfield Beach for $12.75 million, property records show.

The Shoppes of Hillsboro, a 68,166-square-foot retail center, sold for about $187 per square foot. Records show Hallandale-based 2201 Realty LLC, led by Joseph Edelman, bought the property. The buyer assumed a $6.83 million mortgage from Wilmington Trust.

The co-seller, Miramar-based American Purchasing Services, does business as American Medical Depot. The company is a distributor of medical and surgical products and equipment. Records show Butters and his partner bought the property at 2201-2207 and 2215-2265 West Hillsboro Boulevard for $10.5 million in 2015.

Built in 1982, the 7.3-acre site includes two parcels with an inline strip and two single-tenant pads. The tenant mix includes various medical, financial and clerical businesses as well as some food services and sundry retail. High-density, multi-residential communities nearby include the retirement community Century Village.

Butters Construction is an investor, developer and contractor that mainly operates in South Florida. Some of its dealings include the $9.9 million sale of a Boca development site where the Geo Group, a for-profit operator of prisons, plans to build a new corporate headquarters.


Related Articles

arrow_forward_ios
1111 Southwest 30 Avenue (Credit: Google Maps and iStock)

Vitamin company sells warehouse in Deerfield Beach for $22M

JB’s on the Beach and Native Realty's Jaime Sturgis (Credit: Google Maps)

JB’s on the Beach site hits the market for $18M

50 Lock Road (Credit: Google Maps, iStock)

Bottoms up! Double Eagle Distributing center sells for $11M

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

The Club at Crystal Lake, AHS Residential’s Ernesto Lopes

Deerfield Beach apartment complex sells for $30M

776-858 Military Trail and Denholtz Properties CEO Steven Denholtz

Denholtz Properties buys Deerfield Beach buildings for $28M

Praxis of Deerfield Beach Apartments and MRK Partners CEO Sydne Garchik

Affordable senior housing in Deerfield Beach sells for $24M

3201 Southwest 15th Street (Credit: Google Maps)

“Chicken Soup for the Soul” publisher sells Deerfield Beach building

arrow_forward_ios
Loading...