Part of Margate shopping center formerly anchored by Penn Dutch sells for $12M

Penn Dutch anchored the shopping center until 2019

Miami /
Jan.January 06, 2021 01:30 PM
From top: Ruben Lujo from Broward Meat, SunCap's Scott Auker and Ross Realty's Barry Ross with Penn Dutch Plaza shopping center in Margate (Linkedin, Google Maps)

From top: Ruben Lujo from Broward Meat, SunCap’s Scott Auker and Ross Realty’s Barry Ross with Penn Dutch Plaza shopping center in Margate (Linkedin, Google Maps)

A group of local investors sold part of a Margate shopping center anchored by a former Penn Dutch food center for $11.9 million.

Ross Realty Investments and SunCap Real Estate Investments sold the southern part of the Penn Dutch Plaza shopping center near the intersection of State Route 7 and Northwest 31st Street, according to records.

The buyer is an affiliate of Broward Meat and Fish Co. Owned by the Lujo family, the specialty grocer operates three locations in the region, in Pembroke Pines, North Lauderdale and Lauderdale Lakes.

Ross and SunCap are maintaining ownership of the northern part of the shopping center. Tenants there include The Toddler Club daycare center and a campus of Florida Career College, according to their websites.

Ross, led by Barry Ross, is based in Davie. Boca Raton-based SunCap is led by Brian Mark and Scott Auker.

The sellers bought the shopping center in 2015 for $18.5 million, records show.

In 2019, low-price meat and seafood seller Penn Dutch shut down the Margate store and a Hollywood location over listeria contamination and started liquidating the company, according to the Sun-Sentinel.

In 2017, the Penn Dutch Plaza investors sold an outparcel to Brightstar Credit Union for $2.2 million, according to records. In 2019, the investors sold another portion of the center for $575,000.

Recent retail property sales in Margate include a CVS pharmacy and adjacent drive-thru bank building fetching $7 million. A Margate car dealership was part of a $90.5 million multi-property sale to two Maryland billionaires.





    Related Articles

    arrow_forward_ios
    The Estate Companies’ principal Jeffrey Ardizon and managing principal Robert Suris along with a rendering of Soleste on the Bay (Form Group, The Estate Companies, Getty Images)
    Estate proposes 360-unit North Miami Beach rental tower
    Estate proposes 360-unit North Miami Beach rental tower
    Terra Group's David Martin and the CentroCity project at 3825 Northwest 7th Street (Terra Group, Getty)
    Terra’s CentroCity Little Havana project nets $230M in financing
    Terra’s CentroCity Little Havana project nets $230M in financing
    Gatsby Enterprises'  Babak Ebrahimzadeh with 25 and 45 Northeast Second Avenue, as well as at 220 Northeast First Street (Loopnet, LinkedIn)
    All aboard! Gatsby buys railroad-themed Delray Beach retail plaza for $30M
    All aboard! Gatsby buys railroad-themed Delray Beach retail plaza for $30M
    RK Centers Ranaan Katz with 1400-1484 East Hallandale Beach Boulevard (Loopnet)
    Raanan Katz buys Hallandale Beach shopping center
    Raanan Katz buys Hallandale Beach shopping center
    Longpoint Realty Managing and Founding Partner Dwight Angelini and the El Paraiso shopping center at 1700 and 1800 West 68th Street in Hialeah (LinkedIn, Google Maps, Getty)
    Longpoint picks up Hialeah shopping center for $43M
    Longpoint picks up Hialeah shopping center for $43M
    Tricera Capita's Ben Mandell with rendering of The Press project (Tricera Capital)
    Lease roundup: Tricera scores tenants in West Palm, Boca
    Lease roundup: Tricera scores tenants in West Palm, Boca
    Federal Realty CEO Donald Wood and The Shops at Pembroke Gardens at 527 Southwest 145th Terrace in Pembroke Pines (Getty Images, Pembroke Gardens, Federal Realty)
    Federal Realty buys Pembroke Pines shopping plaza for $180.5M
    Federal Realty buys Pembroke Pines shopping plaza for $180.5M
    From left: TRP's President Daniel Firtel, MV Real Estate Holdings' Alex Mantecon, and TRP's Brandon Johnson with 8303 SW 40th Street
    Who wants Cookies? National cannabis firm opening dispensary in Westchester
    Who wants Cookies? National cannabis firm opening dispensary in Westchester
    arrow_forward_ios

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

    Loading...