Miami Heat minority owner continues Best Buy shopping spree with $12M Plantation deal
Raanan Katz’s RK Centers bought a Sweetwater Best Buy in September
Raanan Katz’s real estate company RK Centers paid $11.5 million for a Best Buy-leased building in Plantation.
RK bought the 58,000-square-foot building at 12301 West Sunrise Boulevard, according to records. The building was built in 1995. The price equates to $198 per square foot.
Roberto Susi of Axiom Capital Advisors told The Real Deal that he represented the buyer and seller in the off-market deal.
The sellers were companies affiliated with real estate investors from Beverly Hills, California. The deed was signed by Michael B. Kaplan, whose family operates ARKA Properties Group; Zachary Zalben, who describes himself on LinkedIn as CEO of Black Equities Group, the company his grandfather Stanley Black founded; and Robert Barth, Stanley Black’s business partner of 30-plus years until Black sued Barth in 2019 alleging an $8 million fraud.
The deal follows RK Centers’ $20.4 million purchase in September of a 4.2-acre property leased to Best Buy at 10760 Northwest 17th Street in Sweetwater.
Katz began buying commercial real estate in South Florida in the 1970s. In 1986, he became a partner in the Miami Heat expansion and has been a limited partner since 1988, according to his website.
RK Centers owns and manages over 9 million square feet of commercial retail space in regional and community shopping centers in New England and South Florida, according to the release.
Other recent retail market deals in Broward County include a group of local investors selling part of a Margate shopping center anchored by a former Penn Dutch food center for $11.9 million, and Rosemurgy Properties selling a Pompano Beach shopping center for $10.1 million.