2020 was a challenging year for South Florida commercial real estate and for many markets around the country / world, as the economic backlash of the pandemic took hold and affected multiple financial and business sectors globally.
In comparison to last year’s South Florida shopping center transactions, the #1 sale in 2020 is 40% of the transaction value of the top sale in 2019. However, despite not having many major splash sales like the previous years, there were still many high-value retail center transactions in the area.
View our commercial properties in Florida to see what real estate assets are available for lease / sale.
We’ve put together the top shopping center transactions in South Florida for 2020.
Top South Florida Retail Shopping Center Transactions List 2020
1) Retail Property: Coral Sky Plaza
Location: Royal Palm Beach, FL
Price: $39,500,000
Square Footage: 232,765
Price / SF: $170
Seller: Clarion Partners
Buyer: Kenneth Silverman
2) Retail Property: Village Green Center
Location: Wellington, FL
Price: $35,500,000
Square Footage: 81,421
Price / SF: $436
Seller: Ward Real Estate
Buyer: Weingarten Realty Investors
3) Retail Property: Arrigo Dodge Chrysler Jeep Sawgrass
Location: Tamarac, FL
Price: $634,500,000
Square Footage: 240,000
Price / SF: $144
Seller: Arrigo Enterprises Inc
Buyer: Redwood Capital Investments LLC
4) Retail Property: Arrigo Dodge Chrysler Jeep West Palm Beach
Location: West Palm Beach, FL
Price: $30,000,000
Square Footage: 122,316
Price / SF: $245
Seller: Arrigo Enterprises Inc
Buyer: Redwood Capital Investments Inc
5) Retail Property: Civica Center
Location: Miami, FL
Price: $26,000,000
Square Footage: 65,000
Price / SF: $400
Seller: Rockpoint Group LLC
Buyer: Taurus Investment Holdings LLC
6) Retail Property: Alamo Rent-A-Car
Location: Miami, FL
Price: $24,525,000
Square Footage: 25,571
Price / SF: $959
Seller: Bergeron Properties & Investment Corp
Buyer: Prologis
7) Retail Property: Off Lease Only West Palm Beach
Location: West Palm Beach, FL
Price: $24,297,953
Square Footage: 44,500
Price / SF: $546
Seller: Off Lease Only Inc
Buyer: Spirit Realty Capital Inc
8) Retail Property: Riviera Plaza
Location: Coral Gables, FL
Price: $23,000,000
Square Footage: 44,514
Price / SF: $517
Seller: Gadinsky Real Estate LLC, Echion USA, 13th Floor Manager LLC
Buyer: Public Supermarkets Inc
9) Retail Property: Off Lease Only Fort Lauderdale
Location: North Lauderdale, FL
Price: $22,834,249
Square Footage: 49,413
Price / SF: $462
Seller: Off Lease Only Inc
Buyer: Spirit Realty Capital Inc
10) Retail Property: Crystal Lake Shopping Center
Location: Homestead, FL
Price: $22,713,640
Square Footage: 85,873
Price / SF: $265
Seller: MMG Equity Partners
Buyer: Jose Chacalo Hilu
11) Retail Property: Westland Gateway
Location: Hialeah, FL
Price: $21,000,000
Square Footage: 108,000
Price / SF: $194
Seller: Seritage Growth Properties
Buyer: CTO Realty Growth Inc
11) Retail Property: Aventura Chrysler Jeep Dodge Ram
Location: North Miami Beach, FL
Price: $21,000,000
Square Footage: 65,517
Price / SF: $321
Seller: Alex Kurkin
Buyer: PSD Automotive Group
13) Retail Property: Waterways Shoppes I
Location: Weston, FL
Price: $20,450,000
Square Footage: 35,912
Price / SF: $569
Seller: Fondo Atlas
Buyer: NISA Waterways LLC
14) Retail Property: Best Buy Doral
Location: Miami, FL
Price: $20,400,000
Square Footage: 45,675
Price / SF: $447
Seller: Salomon Hanono
Buyer: RK Centers
15) Retail Property: Winn-Dixie South Miami
Location: South Miami, FL
Price: $18,950,000
Square Footage: 20,512
Price / SF: $924
Seller: Carthage Real Estate LLC
Buyer: Avalon Bay Communities Inc
16) Retail Property: Largo Honda
Location: Homestead, FL
Price: $16,750,000
Square Footage: 180,000
Price / SF: $93
Seller: Esserman Automotive Group
Buyer: William Lehman Auto Group
17) Retail Property: Young Circle Shopping Center
Location: Hollywood, FL
Price: $15,750,000
Square Footage: 64,574
Price / SF: $244
Seller: Regency Centers Corporation
Buyer: Westport Capital Partners LLC
18) Retail Property: 1800 Biscayne Plaza
Location: Miami, FL
Price: $15,450,000
Square Footage: 20,027
Price / SF: $771
Seller: Cervera Real Estate LLC
Buyer: Delorean Holdings LLC
19) Retail Property: Dolphin Plaza
Location: Miami Gardens, FL
Price: $14,450,000
Square Footage: 97,261
Price / SF: $149
Seller: Peleg Group (USA) LLC
Buyer: Island Associates Real Estate LLC
20) Retail Property: The Paris Theater
Location: Miami Beach, FL
Price: $13,000,000
Square Footage: 25,589
Price / SF: $508
Seller: Eugene Rodriguez
Buyer: Mr Hospitality
21) Retail Property: Tesla Palm Beach
Location: West Palm Beach, FL
Price: $12,870,000
Square Footage: 23,240
Price / SF: $554
Seller: Pebb Enterprises
Buyer: Hanson & Hanson Builders Inc
22) Retail Property: The Promenade Plaza
Location: Lauderhill, FL
Price: $12,750,000
Square Footage: 121,773
Price / SF: $105
Seller: Mark Alhadeff & Andrew Mirmelli
Buyer: Current Capital Real Estate Group
23) Retail Property: Waterway Café
Location: Palm Beach Gardens, FL
Price: $12,500,000
Square Footage: 11,354
Price / SF: $1,101
Seller: Thomas Smith & Edith Stevenson
Buyer: Jill & Scott Yates & Roberto Roybal
24) Retail Property: Chandler Building
Location: Miami Beach, FL
Price: $12,000,000
Square Footage: 12,379
Price / SF: $969
Seller: Meredith Porte Fishman
Buyer: Grupo Invivas
25) Retail Property: Village of Naranja Shoppes
Location: Naranja, FL
Price: $11,650,000
Square Footage: 90,445
Price / SF: $129
Seller: FIRC Group, Inc
Buyer: Longpoint Realty Partners
Top South Florida Retail Shopping Center Transactions Table 2020
| Rank | Center Name | Sale Price | SF | Price/SF | Seller | Buyer | Location |
| 1 | Coral Sky Plaza | $ 39,500,000 | 232,765 | $ 170 | Clarion Partners | Kenneth Silverman | Royal Palm Beach |
| 2 | Village Green Center | $ 35,500,000 | 81,421 | $ 436 | Ward Real Estate | Weingarten Realty Investors | Wellington |
| 3 | Arrigo Dodge Chrysler Jeep Sawgrass | $ 34,500,000 | 240,000 | $ 144 | Arrigo Enterprises Inc | Redwood Capital Investments LLC | Tamarac |
| 4 | Arrigo Dodge Chrysler Jeep West Palm Beach | $ 30,000,000 | 122,316 | $ 245 | Arrigo Enterprises Inc | Redwood Capital Investments LLC | West Palm Beach |
| 5 | Civica Center | $ 26,000,000 | 65,000 | $ 400 | Rockpoint Group LLC | Taurus Investment Holdings LLC | Miami |
| 6 | Alamo Rent-A-Car | $ 24,525,000 | 25,571 | $ 959 | Bergeron Properties & Investment Corp | Prologis | Miami |
| 7 | Off Lease Only West Palm Beach | $ 24,297,953 | 44,500 | $ 546 | Off Lease Only Inc | Spirit Realty Capital Inc | West Palm Beach |
| 8 | Riviera Plaza | $ 23,000,000 | 44,514 | $ 517 | Gadinsky Real Estate LLC, Echion USA, 13th Floor Manager LLC | Publix Supermarkets Inc | Coral Gables |
| 9 | Off Lease Only Fort Lauderdale | $ 22,834,249 | 49,413 | $ 462 | Off Lease Only Inc | Spirit Realty Capital Inc | North Lauderdale |
| 10 | Cyrstal Lake Shopping Center | $ 22,713,640 | 85,873 | $ 265 | MMG Equity Partners | Jose Chacalo Hilu | Homestead |
| 11 | Westland Gateway | $ 21,000,000 | 108,000 | $ 194 | Seritage Growth Properties | CTO Realty Growth Inc | Hialeah |
| 11 | Aventura Chrysler Jeep Dodge Ram | $ 21,000,000 | 65,517 | $ 321 | Alex Kurkin | PSD Automotive Group | North Miami Beach |
| 13 | Waterways Shoppes I | $ 20,450,000 | 35,912 | $ 569 | Fondo Atlas | NISA Waterways LLC | Weston |
| 14 | Best Buy Doral | $ 20,400,000 | 45,675 | $ 447 | Salomon Hanono | RK Centers | Miami |
| 15 | Winn-Dixie South Miami | $ 18,950,000 | 20,512 | $ 924 | Carthage Real Estate LLC | Avalon Bay Communities Inc | South Miami |
| 16 | Largo Honda | $ 16,750,000 | 180,000 | $ 93 | Esserman Automotive Group | William Lehman Auto Group | Homestead |
| 17 | Young Circle Shopping Center | $ 15,750,000 | 64,574 | $ 244 | Regency Centers Corporation | Westport Capital Partners LLC | Hollywood |
| 18 | 1800 Biscayne Plaza | $ 15,450,000 | 20,027 | $ 771 | Cervera Real Estate Inc | Delorean Holdings LLC | Miami |
| 19 | Dolphin Plaza | $ 14,450,000 | 97,261 | $ 149 | Peleg Group (USA) LLC | Island Associates Real Estate Inc | Miami Gardens |
| 20 | The Paris Theater | $ 13,000,000 | 25,589 | $ 508 | Eugene Rodriguez | Mr. Hospitality | Miami Beach |
| 21 | Tesla Palm Beach | $ 12,870,000 | 23,240 | $ 554 | Pebb Enterprises | Hanson & Hanson Builders Inc | West Palm Beach |
| 22 | The Promenade Plaza | $ 12,750,000 | 121,773 | $ 105 | Mark Alhadeff & Andrew Mirmelli | Current Capital Real Estate Group | Lauderhill |
| 23 | Waterway Café | $ 12,500,000 | 11,354 | $ 1,101 | Thomas Smith & Edith Stevenson | Jill & Scott Yates & Roberto Roybal | Palm Beach Gardens |
| 24 | Chandler Building | $ 12,000,000 | 12,379 | $ 969 | Meredith Porte Fishman | Grupo Invivas | Miami Beach |
| 25 | Village of Naranja Shoppes | $ 11,650,000 | 90,445 | $ 129 | FIRC Group Inc | Longpoint Realty Partners | Naranja |
View Top South Florida Retail Shopping Center Transactions 2019
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