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Mazel tov! Kosher market-anchored shopping center trades for $16M

IMC Equity bought Stirling Town Center for $287 psf

Stirling Town Center and Yoram Izhak (Credit: Google Maps)
Stirling Town Center and Yoram Izhak (Credit: Google Maps)

IMC Equity snagged a retail center anchored by a Kosher supermarket in Cooper City for $16.36 million.

The North Miami-based firm, led by Yoram Izhak, purchased the 56,968-square-foot Stirling Town Center for $287 per square foot, records show. Stirling Retail 26 LLC, led by Yaniv Sananes of Golden Beach, sold the shopping center.

The property is at 8631-8861 Stirling Road in Cooper City, adjacent to the David Posnack Jewish Community Center. The retail center is anchored by Aroma Kosher Market.

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“You don’t have a lot of locations like [Aroma Kosher Market], said Carlos Segrera, chief investment officer of IMC. “That attracts a lot of people to the center.”

Segrera said the retail center only has two vacancies totaling about 3,000 square feet and that it will not require extensive renovations. He said IMC was also attracted to the property because of the large number of single-family homes nearby.

The shopping center, built in 2005, last sold in 2016 for $13.5 million, records show.

IMC Equity is actively buying distressed and nondistressed retail properties in South Florida. In December, the investment firm bought a 250,000-square-foot shopping center in Margate called Peppertree Plaza for $45.5 million. In May, it bought the Flea Market USA property in the West Little River neighborhood of Miami for $13.5 million, where it plans to build a mixed-use project.

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Cooper City