The Real Deal Miami

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

The bowling alley has 57 lanes
By Keith Larsen | February 06, 2019 10:30AM

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.