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
Jeff Burns, Nick Rojo, The Bohemian Lake Worth

Affiliated Development’s Lake Worth Beach apartment project approved

Affiliated Development’s Lake Worth Beach apartment project approved
A rendering of the Intracoastal Mall and Gil Dezer

Dezer’s plans to remake Intracoastal Mall face opposition

Dezer’s plans to remake Intracoastal Mall face opposition
Alta Developers CEO Raimundo Onetto and Le Parc at Brickell rendering

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects
Biscayne Beach

Lawsuit accuses Biscayne Beach developer and construction firms of shoddy work

Lawsuit accuses Biscayne Beach developer and construction firms of shoddy work
Investments Limited’s James Batmasian and clockwise from top left: 22797-22749 State Road 7, Boca Raton; 601 Fairway Drive, Deerfield Beach; 23123 South State Road 7, Boca Raton; 22973-23071 South State Road 7, Boca Raton (Credit: Google Maps)

Investments Limited scores $67M loan for 13 SoFla properties

Investments Limited scores $67M loan for 13 SoFla properties
AHS Residential Ernesto Lopes and AHS Residential Tamiami (Credit: AHS)

AHS Residential scores $33M construction loan for Kendall apartment complex

AHS Residential scores $33M construction loan for Kendall apartment complex
AHS Residential’s Ernesto Lopes (Credit: D Ramey Logan/Wikipedia)

AHS Residential scores $34M loan for apartment project near West Palm

AHS Residential scores $34M loan for apartment project near West Palm
Quadro at Design District and Rainmundo Onetto

Alta Developers launches sales of Quadro at Design District

Alta Developers launches sales of Quadro at Design District
arrow_forward_ios

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

Loading...