Wholesale grocery executive Jeff Levitetz just dropped $7 million on strip mall in Lighthouse Point, property records show.
The property at 3100-3150 North Federal Highway features 30,740 square feet of retail space, meaning the deal breaks down to about $228 per square foot. The property sits on 2.5 acres of land with frontage along North Federal Highway.
The seller, Lighthouse 3110 LLC, is led by property investor Alberto Dayan. Records show the entity paid $5.7 million for the site in 2014. The strip mall, called 3110 Plaza, was built in 1987.
Tenants include Hott Leggz Seafood and Burger Bar, Hair Design Plus, El Tamarindo Cafe and an animal hospital. Burger franchise BurgerFi announced it would move into the plaza in 2014.
Levitetz is the founder and chairman of Purity Wholesale Grocers, which acts as a nationwide wholesale distributor of grocery store products and other merchandise. The company is based out of Boca Raton’s 700-acre Park of Broken Sound.
In 2016, the Shopper’s Haven retail center, just a couple of blocks north of 3110 Plaza, at 3301 North Federal Highway, sold for $50 million to real estate investors Chris and Carmen Partridge.