iStar buys Sawgrass Lanes bowling alley in Tamarac for $10M

The bowling alley has 57 lanes

Miami /
Feb.February 06, 2019 10:30 AM

iStar CEO Jay Sugarman and the Sawgrass Lanes bowling alley

iStar aims to score a strike by purchasing the Sawgrass Lanes bowling alley in Tamarac for about $10 million.

The New York-based real estate investment giant bought the 58,572-square-foot bowling alley at 8501 North University Drive for $170 per square foot, records show. iStar purchased the property from HZ Tamarac LLC, managed by Michael Zheutlin, who bought the site in 2008 for $4.4 million.

The property was built in 1976. The bowling alley is operated by Bowlero, which also owns the popular bowling chain AMF. The Sawgrass Lanes bowling alley has 56 lanes, an arcade and laser tag, according to its website.

iStar has a real estate portfolio of $5.2 billion with 31 percent of its properties in office and industrial. The company’s holdings include bowling centers across the country, including 58 it purchased in a portfolio deal worth $200 million in 2014.


Related Articles

arrow_forward_ios
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
(Photos courtesy of Miami Historic Preservation, Smith Aerials, Colliers)
Development site near MiamiCentral hits the market
Development site near MiamiCentral hits the market
Alliance Residential Company CEO Bruce Ward and 6595 Morikami Park Road (Google Maps)
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Arbor Management Acquisition Company heads Ivan Kaufman and Maurice Kaufman with a rendering of Aventura Park (Anillo Toledo Lopez, iStock)
Arbor Management buys multifamily dev site near Aventura for $10M
Arbor Management buys multifamily dev site near Aventura for $10M
arrow_forward_ios

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

Loading...