The Real Deal Miami

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

Tenants include Billy Jack’s Shack, Basilic Vietnamese Grill and Dr. Juice
By Amanda Rabines | July 02, 2018 06:45PM

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.