Mixed-use Lauderdale-by-the-Sea shopping center sells for $7M

Tenants include Billy Jack’s Shack, Basilic Vietnamese Grill and Dr. Juice

Miami /
Jul.July 02, 2018 06:45 PM

Rendering of renovations for Seagrape Commons Plaza and Native Realty’s Jaime Sturgis and Amanda Roy

A Lauderdale-by-the-Sea landmark just sold for $6.75 million.

Seagrape Commons LLC, led by ABL Development’s Anthony and Anna Marie Lomascolo, sold the 37,000-square-foot mixed-use building at 218 and 222 East Commercial Boulevard for about $180 per square foot. ACS 218 LLC, controlled by Andrew and Corey Shader in Fort Lauderdale, bought Seagrape Commons.

The ABL affiliate paid $5.22 million for the property beginning in 2008, and renovated the building in 2015. Native Realty’s Jaime Sturgis and Amanda Roy brokered the off-market deal, according to a release.

Sturgis said the two-story building is almost fully leased. It features ground floor retail with a mix of restaurants, like the recently opened Billy Jack’s Shack, Basilic Vietnamese Grill, Dr. Juice and Pump Sushi. The second floor includes office space, as well as two apartments that are both leased, Sturgis said.

The property sits on the southern side of East Commercial Boulevard, near the the Anglin’s Fishing Pier. A number of Canadian investors have also been picking up properties in the beach town, situated on the coast between Fort Lauderdale and Pompano Beach.


Related Articles

arrow_forward_ios
Ari Pearl, Jonathan Leifer and 9540 West Bay Harbor Drive. (Wyndam Hotels, PPG Development, L3C Capital Partners)
Ari Pearl, Jonathan Leifer acquire Bay Harbor Islands hotel out of foreclosure
Ari Pearl, Jonathan Leifer acquire Bay Harbor Islands hotel out of foreclosure
From left: Tom Brady and Gisele Bündchen; Pharrell Williams; Sylvester Stallone and Jennifer Flavin; Jared Kushner and Ivanka Trump (Getty, iStock)
South Florida’s biggest real estate stories of 2020
South Florida’s biggest real estate stories of 2020
Shelborne South Beach and Seagull Hotel (Shelborne, Google Maps)
Here are South Florida’s biggest hotel sales in 2020
Here are South Florida’s biggest hotel sales in 2020
The Gale Hotel with Harvey Hernandez
Banyan Investment buys Gale Fort Lauderdale hotel from Harvey Hernandez
Banyan Investment buys Gale Fort Lauderdale hotel from Harvey Hernandez
Francisco Martinez Miyashiki (forefront) and Francisco Martinez Celeiro with 16805 Northwest 12th Avenue (Linkedin, Wikipedia Commons, Google Maps)
Former actor sells Miami Gardens hotel for $6M
Former actor sells Miami Gardens hotel for $6M
Paul Lardi and 200-212 Collins Avenue (Linkedin, Alex Zylberglait/Marcus & Millichap)
South Beach property sells for $6M, buyer plans apartment-hotel
South Beach property sells for $6M, buyer plans apartment-hotel
Diego Colmenero and Charlie Porchetto from Urbanica plan to break ground on Edgewater hotel (Urbanica)
Urbanica completes $9M assemblage for Edgewater hotel
Urbanica completes $9M assemblage for Edgewater hotel
Rendering of the project
Fort Lauderdale OKs plan for Bahia Cabana Hotel on the beach
Fort Lauderdale OKs plan for Bahia Cabana Hotel on the beach
arrow_forward_ios

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

Loading...