GDF Properties, a Puerto Rico-based investment firm, bought a retail center in Pompano Beach for $11.6 million, marking its second deal in Broward County in a week.
The firm purchased Dansk Shopping Center, at 2401 West Atlantic Boulevard, from New York-based Nightingale Properties.
The shopping center totals 58,719 square feet, equating to a price of $197 per square foot, records show.
The property was last purchased for $11.2 million in 2013, records show. The shopping center was built in 1987 and sits on about 5 acres. It is located at the intersection of North Powerline Road and West Atlantic Boulevard.
David Egozi of JDM Realty Group represented the buyer in the transaction. Egozi said the property is 62 percent occupied.
Last week, GDF Properties purchased a two-building industrial/office complex at 5410-5430 Northwest 33rd Avenue in Fort Lauderdale.
The Pompano Beach retail center is near Isle Casino Racing Pompano Park and could benefit from a proposal to build more residential development there. In January, Pompano Beach commissioners granted the first approval to triple the maximum number of residential units at Isle Casino Racing Pompano Park. Reno, Nevada-based Eldorado Resorts is in a joint venture to redevelop the 223-acre Pompano Beach property with Baltimore-based Cordish Companies, the developer of the Seminole Hard Rock Hotel & Casino in Hollywood.