Nova Southeastern University sells University Park Plaza in Davie
The university bought the site in 1985 for $4.8M with partner the Brandon Company
A shopping center just west of Nova Southeastern University called University Park Plaza has traded hands for $22 million, property records show.
National hospital operator HCA bought the nearly 190,000-square-foot center at 3400 and 3580 South University Drive for about $117 per square foot. University Associates Ltd., the for-profit arm of Nova Southeastern University, was the seller.
The university bought the site in 1985 for $4.8 million with its partner the Brandon Company, a Miami-based commercial developer, records show.
Westside Regional Medical Center’s off-site emergency room was part of the trade. Records show the 12,700-square-foot facility at 3476 South University Drive was built in 2016. Tenants include Geronimo’s Bar & Grill and Nova Southeastern’s bookstore.
Representatives of the Brandon Company and NSU were not immediately available for comment.
Earlier this month, Nova Southeastern University’s North Miami Beach campus hit the market for $32 million. Listing agent Adam J. Tiktin said the university will be taking equity from the sale and reinvesting it into its main campus in Davie.
Nearby, developer Harvey Mattel and his partner Ari Meltzer are building Downtown Davie, a mixed-use project that will bring 855 upscale dormitory rooms plus ground-floor retail stores, cafes and offices. The project is scheduled to open by the fall of 2018.