Feb 15

Top 25 South Florida Retail Shopping Center Transactions of 2021

Compared to 2020, 2021 was a big year for South Florida commercial real estate in general as the economy saw a big boost from many new residents and companies moving in from other states. This factor coupled with the state’s relatively relaxed Covid-19 regulations allowed for businesses to breathe and people to circulate more freely. While many markets around the country / world were still adapting to the different waves of the virus, Florida held strong as a beacon of prosperity. This has been witnessed across many economic metrics and in different business sectors.

In comparison to last year’s South Florida shopping center transactions, the #1 sale in 2021 is more than 60% of the transaction value of the top sale in 2020. There are several other massive, high-value retail center transactions in the area with a total of three sales sales clearing the $100M price tag.

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We’ve put together the top shopping center transactions in South Florida for 2021.

Top South Florida Retail Shopping Center Transactions List 2021

1) Retail Property: Shops at Beacon Lakes

Top South Florida Retail Shopping Center Transactions List 2021 - MMG

Location: Doral, FL
Price:
$108,000,000
Square Footage:
431,774
Price / SF:
$250
Seller:
Stiles Retail Group
Buyer: 
AEW Capital Management

2) Retail Property: Hollywood Hills Plaza

Location: Hollywood, FL
Price:
$100,156,977
Square Footage:
333,493
Price / SF:
$300
Seller:
Jamestown
Buyer:
Kimco Realty Co & Blackstone REIT

3) Retail Property: Legacy Place

Legacy Place Palm Beach Gardens - Shopping Center Florida

Location: Palm Beach Gardens, FL
Price:
$101,660,000
Square Footage:
433,701
Price / SF:
$234
Seller:
GLL Real Estate Partners Inc
Buyer:
Lone Star Funds

4) Retail Property: Flamingo Pines Shopping Center

Location: Penbroke Pines, FL
Price:
$80,214,018
Square Footage:
123,864
Price / SF:
$648
Seller:
Jamestown
Buyer:
Kimco Realty Co & Blackstone REIT

5) Retail Property: Pembroke Commons

Location: Pembroke Pines, FL
Price:
$78,865,224
Square Footage:
288,162
Price / SF:
$274
Seller:
Jamestown
Buyer:
Kimco Realty Co & Blackstone REIT

6) Retail Property: Fountains of Boynton Beach 

Location: Boynton Beach, FL
Price:
$76,093,323
Square Footage:
171,643
Price / SF:
$443
Seller:
Union Investment Real Estate GmbH
Buyer:
DRA Advisors

7) Retail Property: Northridge Shopping Center

Northridge Shopping Center - Florida Retail Centers

Location: Oakland Park, FL
Price:
$68,584,845
Square Footage:
230,859
Price / SF:
$297
Seller:
Jamestown
Buyer:
Kimco Realty Corporation & Blackstone REIT

8) Retail Property: Aventura Parksquare

Location: Aventura, FL
Price:
$48,000,000
Square Footage:
50,149
Price / SF:
$957
Seller:
Integra Solutions, LLC
Buyer: 
MG3 Developers Group

9) Retail Property: Tamiami Trail Shops

Location: Miami, FL
Price:
$45,838,773
Square Footage:
110,952
Price / SF:
$413
Seller: 
Jamestown
Buyer:
Kimco Realty Corporation & Blackstone REIT

10) Retail Property: South Harbor Plaza 

Location: Ft Lauderdale, FL
Price:
$38,673,785
Square Footage:
101,295
Price / SF:
$382
Seller:
Andrew L Martin
Buyer: 
Hudson Capital Group

11) Retail Property: Cobblestone Commons

Cobblestone Commons - Florida Shopping Center

Location: Boynton Beach, FL
Price:
$37,546,915
Square Footage:
88,788
Price / SF:
$423
Seller:
Tricor International Corporation
Buyer: 
Fibra Uno Administracion SA de CV

11) Retail Property: Crystal Cove Commons

Location: North Palm Beach, FL
Price:
$36,200,000
Square Footage:
60,993
Price / SF:
$594
Seller:
Black Lion Investment Group
Buyer: 
American Commercial Realty Corp

13) Retail Property: Boulan South Beach

Location: Miami Beach, FL
Price:
$34,000,000
Square Footage:
35,482
Price / SF:
$958
Seller:
PGIM, Inc
Buyer: 
Regal Acquisitions

14) Retail Property: El Mercado

Location: Hialeah, FL
Price:
$33,000,000
Square Footage:
96,041
Price / SF:
$344
Seller:
Stockbridge Capital Group, LLC
Buyer: 
Horizon Properties

15) Retail Property: Shoreland Arcade

Shoreland Arcade Miami FL - Historic Shopping Center

Location: Miami, FL
Price:
$29,500,000
Square Footage:
89,994
Price / SF:
$328
Seller:
ROK Enterprises, Inc
Buyer: 
Mana Common

16) Retail Property: 41 – 65 E Flagler St & 58 – 62 NE 1st St

Location: Miami, FL
Price:
$27,200,000
Square Footage:
82,761
Price / SF:
$329
Seller:
TIR Prime Properties
Buyer: 
Mana Common

17) Retail Property: 100 N Miami Avenue, 173 NE 1st Street and 124 NE 2nd Avenue

Location: Miami, FL
Price:
$25,370,000
Square Footage: 50,197
Price / SF:
$505
Seller:
SG & S Inc
Buyer: 
Mana Common

18) Retail Property: Miami Gardens Shopping Plaza

Miami Gardens Shopping Plaza - Florida Retail Center

Location: Miami Gardens, FL
Price:
$24,932,374
Square Footage:
114,342
Price / SF:
$218
Seller: 
Jeffrey Rosenberg
Buyer: 
Elie Foureti

19) Retail Property: Wynwood Block 

Location: Miami, FL
Price:
$24,200,000
Square Footage:
23,000
Price / SF:
$1,052
Seller:
JZ Capital Management
Buyer: 
Joseph Cohen

20) Retail Property: Shoppes of Coral Way

Location: Coral Gables, FL
Price:
$24,174,000
Square Footage:
69,299
Price / SF:
$349
Seller: 
Arnold Wax
Buyer: 
B Developments

21) Retail Property: 215 – 225 Worth Ave

Location: Palm Beach, FL
Price:
$23,760,000
Square Footage:
12,263
Price / SF:
$1,938
Seller:
Love Realty Group
Buyer:
M Development, LLC

Oakland Park Festival Centre - Florida Shopping Center

22) Retail Property: Oakland Park Festival Centre

Location: Oakland Park, FL
Price:
$23,400,000
Square Footage:
158,816
Price / SF:
$147
Seller:
Amos Chess
Buyer: 
Hudson Capital Group

23) Retail Property: Pembroke Pines City Center UFC Fit

Location: Pembroke Pines, FL
Price:
$23,000,000
Square Footage:
48,500
Price / SF:
$474
Seller:
Terra Group
Buyer: 
Mario Carrasco Hernandez

Las Villas Shopping Center - Florida Shopping Center

24) Retail Property: Las Villas Shopping Center

Location: Miami Gardens, FL
Price:
$22,317,626
Square Footage:
84,543
Price / SF:
$264
Seller:
Jeffrey Rosenberg
Buyer: 
Elie Foureti

25) Retail Property: 1920 Alton

Location: Miami Beach, FL
Price:
$21,250,000
Square Footage:
21,811
Price / SF:
$974
Seller:
Torolupa, Inc
Buyer: 
Boich Companies

Top South Florida Retail Shopping Center Transactions Table 2021

Rank Property Name Buyer (True) Company Seller (True) Company  Sum of Sale Price   Sum of Building SF   Sum of Price/SF  City
1 Shops at Beacon Lakes AEW Capital Management Stiles Retail Group  $           108,000,000                              431,774  $                            250 Doral
2 Hollywood Hills Plaza Kimco Realty Corporation & Blackstoen REIT Jamestown  $           100,156,977                              333,493  $                            300 Hollywood
3 Legacy Place Lone Star Funds GLL Real Estate Partners Inc  $           101,660,000                              433,701  $                            234 Palm Beach Gardens
4 Flamingo Pines Shopping Center Kimco Realty Corporation & Blackstoen REIT Jamestown  $              80,214,018                              123,864  $                            648 Pembroke Pines
5 Pembroke Commons Kimco Realty Corporation & Blackstoen REIT Jamestown  $              78,865,224                              288,162  $                            274 Pembroke Pines
6 Fountains of Boynton Beach Union Investment Real Estate GmbH DRA Advisors  $              76,093,323                              171,643  $                            443 Boynton Beach
7 Northridge Shopping Center Kimco Realty Corporation & Blackstoen REIT Jamestown  $              68,584,845                              230,859  $                            297 Oakland Park
8 Aventura Parksquare MG3 Developers Group Integra Solutions, LLC  $              48,000,000                                 50,149  $                            957 Aventura
9 Tamiami Trail Shops Kimco Realty Corporation & Blackstoen REIT Jamestown  $              45,838,773                              110,952  $                            413 Miami
10 South Harbor Plaza Hudson Capital Group Andrew L. Martin  $              38,673,785                              101,295  $                            382 Fort Lauderdale
11 Cobblestone Commons Fibra Uno Administracion SA de CV Tricor International Corporation  $              37,546,915                                 88,788  $                            423 Boynton Beach
12 Crystal Cove Commons American Commercial Realty Corp. Black Lion Investment Group  $              36,200,000                                 60,993  $                            594 North Palm Beach
13 Boulan South Beach Regal Acquisitions PGIM, Inc.  $              34,000,000                                 35,482  $                            958 Miami Beach
14 El Mercado Horizon Properties Stockbridge Capital Group, LLC  $              33,000,000                                 96,041  $                            344 Hialeah
15 Shoreland Arcade Mana Common ROK Enterprises, Inc.  $              29,500,000                                 89,994  $                            328 Miami
16 41 – 65 E Flagler St. & 58 – 62 NE 1st St. Mana Common TIR Prime Properties  $              27,200,000                                 82,761  $                            329 Miami
17 100 N Miami Avenue, 173 NE 1st Street and 124 NE 2nd Avenue Mana Common SG & S Inc  $              25,370,000                                 50,197  $                            505 Miami
18 Miami Gardens Shopping Plaza Elie Foureti Jeffrey Rosenberg  $              24,932,374                              114,342  $                            218 Miami Gardens
19 Wynwood Block Joseph Cohen JZ Capital Management  $              24,200,000                                 23,000  $                        1,052 Miami
20 Shoppes of Coral Way B Developments Arnold Wax  $              24,174,000                                 69,299  $                            349 Coral Gables
21 215-225 Worth Ave M Development, LLC Love Realty Group  $              23,760,000                                 12,263  $                        1,938 Palm Beach
22 Oakland Park Festival Centre Hudson Capital Group Amos Chess  $              23,400,000                              158,816  $                            147 Oakland Park
23 Pembroke Pines City Center UFC Fit Mario Carrasco Hernandez Terra Group  $              23,000,000                                 48,500  $                            474 Pembroke Pines
24 Las Villas Shopping Center Elie Foureti Jeffrey Rosenberg  $              22,317,626                                 84,543  $                            264 Miami Gardens
25 1920 Alton Boich Companies Torolupa, Inc.  $              21,250,000                                 21,811  $                            974 Miami Beach

View Top South Florida Retail Shopping Center Transactions 2020