2018 ended up being a very successful year for the South Florida commercial real estate market. Various factors contributed to the upbeat trends, including: foreign investments, the development of new properties, and major acquisitions across the region.
These are positive signs, as even with changes in the retail market (such as the increased presence of e-commerce around the country), there are still people looking to acquire and invest in retail. Grocery-anchored shopping centers, especially Publix-anchored, are prevalent in the top acquisitions around the state, which is a good indication of resilience despite prevalent changes in consumer habits due to the growing presence of e-commerce.
The following is a list of South Florida’s Top Shopping Center Transactions of 2018.
1) Pines City Center – $80,000,000
Buyer: TA Realty
2) Downtown Dadeland – $78,200,000
Buyer: Midtown Realty Group
3) Shoppes at Isla Verde – $73,750,000
Location: Wellington, FL
4) Doral Commons – $71,600,000
Buyer: Jamestown
5) Festival Flea Market Mall – $56,000,000
Buyer: IMC Equity Group
6) The Fountains of Miramar – $40,000,000
Buyer: Stockbridge Capital
7) Neapolitan Way – $37,800,000
Size: 137,626 SF
Location: Naples, FL
8) Vista Shopping Center – $34,500,000
Size: 91,191 SF
Location: Hialeah, FL
9) Southgate Shopping Center – $28,000,000
Location: New Port Richey, FL
10) Magnolia Shoppes – $23,200,000
Location: Coral Springs, FL
11) Village Shoppes on 441 – $20,550,000
Location: Palm Beach, FL
12) Shoppes of Loggers Run – $18,500,000
Location: Coral Springs, FL
13) Okee Square – $18,400,000
14) The Enclave Shops at Coral Ridge – $17,875,000
Location: Ft Lauderdale, FL
15) Delray Commons – $17,000,000
Location: Delray Beach, FL
16) Beachway Plaza – $15,600,000
Location: Dania Beach, FL
17) Tequesta Shoppes – $14,300,000
Buyer: Noble Properties
18) Jupiter Farms Shopping Center – $12,400,000
Price/ SF: $147
19) Gateway Center – $11,850,000
Buyer: R/S Associates of Florida
20) Pinecrest Center – $9,725,000
Buyer: MMG Equity Partners
21) Target Lauderhill – $9,000,000
Buyer: Three Amigos Lauderhill (MMG, Global Fund Investments, & The Estate Companies)
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