Top 25 South Florida Retail Shopping Center Transactions of 2019

Dec 17
Top 25 South Florida Retail Shopping Center Transactions of 2019

2019 is going down as another successful year South Florida’s commercial real estate market. Across the board of primary stats: vacancy levels, asking rates, and absorption, things have been positive as the decade is coming to a close. One of the most significant contributors to the upbeat sentiment in South Florida retail, particularly, is with the shopping center transactions. Compared to 2018’s retail transactions, 2019 saw more high value transactions. For example, the top transaction in 2019 was 21% higher in value than the top transaction in 2018.

These stats and transactions are fueling the optimism surrounding the retail market overall, and commercial retail experts foresee a continued evolution in the market for 2020.

We’ve put together the top shopping center transactions in South Florida for 2019.

Top South Florida Retail Shopping Center Transactions List 2019

1) Retail Property: Southern Palm Crossing Shopping Center

Southern Palm Crossing Shopping Center Florida Retail Real Estate 2019

Location: West Palm Beach, FL
Price:
$96,750,000
Square Footage:
349,044
Price / SF:
$277
Seller:
Shopcore Properties
Buyer:
InvenTrust Properties Corp.

2) Retail Property: Doral Plaza Shopping Center

Doral Plaza Shopping Center Florida Commercial Real Estate

Location: Doral, FL
Price:
$70,000,000
Square Footage:
113,594
Price / SF:
$616
Seller:
Shopcore Properties
Buyer:
Publix Super Markets Inc.

3) Retail Property: Homestead Pavilion

Homestead Pavilion South Florida Commercial Real Estate Retail Center 2019

Location: Homestead, FL
Price:
$62,250,000
Square Footage:
295,702
Price / SF:
$211
Seller:
SITE Centers Corp.
Buyer:
CREC Capital, MMG Equity Partners, Highline Real Estate

4) Retail Property: Boynton Commons

Boynton Commons Florida Commercial Real Estate Transactions

Location: Boynton Beach, FL
Price:
$50,000,000
Square Footage:
210,489
Price / SF:
$238
Seller:
InvenTrust Properties Corp.
Buyer: 
Carlyle Management Company

5) Retail Property: 17th Street Quay

17th Street Quay Shopping Center Florida Retail 2019

Location: Fort Lauderdale, FL
Price:
$43,000,000
Square Footage:
72,946
Price / SF:
$589
Seller:
Hudson Capital Group
Buyer:
Mast Capital

6) Retail Property: The Pointe at Wellington Green

The-Pointe-at-Wellington-Green-South-Florida-Commercial-Real-Estate-2019

Location: Wellington, FL
Price:
$43,000,000
Square Footage:
107,368
Price / SF:
$400
Seller:
Sunlight Properties
Buyer:
Stairs Management

7) Retail Property: Riverbend Marketplace
Location: Fort Lauderdale, FL
Price:
$38,500,000
Square Footage:
80,331
Price / SF:
$479
Seller:
Gatlin Development Company
Buyer: 
Northbridge Investment Management Inc.

8) Retail Property: Pembroke Place

Pembroke Place South Florida Commercial Real Estate 2019

Location: Pembroke Pines, FL
Price:
$37,525,000
Square Footage:
158,512
Price / SF:
$237
Seller:
Sterling Organization
Buyer: 
Longpoint Realty Partners

9) Retail Property: Walgreens
Location: Miami Beach, FL
Price:
$33,050,000
Square Footage:
22,875
Price / SF:
$1,445
Seller:
Sterling Equity Realty
Buyer: 
Allied Partners Inc.

10) Retail Property: Disston Plaza

Disston Plaza Shopping Center Florida Top Retail Centers 2019

Location: Saint Petersburg, FL
Price:
$27,750,000
Square Footage:
129,192
Price / SF:
$215
Seller:
Forge Capital Partners
Buyer: 
Preferred Apartment Communities Inc.

11) Retail Property: Wellington Green Square

Wellington Green Square South Florida Retail Transactions 2019

Location: Wellington, FL
Price:
$26,125,000
Square Footage:
91,568
Price / SF:
$285
Seller:
RREEF Management LLC
Buyer: 
Dr. Esmail Shahidi

12) Retail Property: Bluffs Square Shoppes

Bluffs Square Shoppes South Florida Retail Transactions 2019

Location: Jupiter, FL
Price:
$25,900,000
Square Footage:
123,917
Price / SF:
$209
Seller:
Regency Centers Corporation
Buyer: 
Sterling Organization

13) Retail Property: Toys “R” Us Dadeland

Toys R Us Dadeland Florida Commercial Real Estate

Location: Kendall, FL
Price:
$25,000,000
Square Footage:
42,000
Price / SF:
$595
Seller:
Wells Fargo & Co., NA
Buyer: 
Bomnin Automotive

14) Retail Property: The Shoppes at Southern Palms

The Shoppes at Southern Palms Top Retail Center Transactions South Florida 2019

Location: West Palm Beach, FL
Price:
$23,550,000
Square Footage:
200,889
Price / SF:
$117
Seller:
Garrison Investment Group
Buyer: 
Miami Manager

15) Retail Property: Best Buy, Bed Bath & Beyond, and Party City

Pembroke Pines Florida Commercial Real Estate Transactions

Location: Pembroke Pines, FL
Price:
$22,250,000
Square Footage:
93,791
Price / SF:
$237
Seller:
Southern Centers Development Corp. and Jennifer Hershon
Buyer: 
RK Centers

16) Retail Property: 318 – 338 Lincoln Road

Lincoln Road Miami Commercial Real Estate Transaction 2019

Location: Miami Beach, FL
Price:
$20,500,000
Square Footage:
22,774
Price / SF:
$900
Seller:
Louise Z Osius Inter Vivos Trust
Buyer: 
RFR Holdings LLC

17) Retail Property: Polo Grounds

Polo Grounds West Palm Beach Commercial Real Estate Transactions 2019

Location: West Palm Beach, FL
Price:
$20,500,000
Square Footage:
129,895
Price / SF:
$158
Seller:
Forge Capital Partners
Buyer: 
Preferred Apartment Communities, Inc.

18) Retail Property: Palm Square

Hollywood Florida Commercial Real Estate 2019

Location: Hollywood, FL
Price:
$20,475,000
Square Footage:
77,621
Price / SF:
$264
Seller:
Bar Invest Group
Buyer: 
Bar Invest Group

19) Retail Property: Shoppes of Forest Hill
Location: West Palm Beach, FL
Price:
$19,600,000
Square Footage:
112,364
Price / SF:
$174
Seller:
Trinity Place Holdings, Inc. 
Buyer: 
Riverstone Capital Group

20) Retail Property: Whitworth Farms

Whitworth Farms Top South Florida Retail Center Transactions 2019

Location: Delray, FL
Price:
$19,350,000
Square Footage:
88,424
Price / SF:
$219
Seller:
MMG Equity Partners & Global Fund Investments
Buyer: 
Juster Development

21) Retail Property: CVS

CVS Miami Beach Florida Commercial Real Estate Transactions 2019

Location: Miami Beach, FL
Price:
$18,320,000
Square Footage:
12,443
Price / SF:
$1,472
Seller:
Eugenio Marrapodi
Buyer:
KLNB

22) Retail Property: The Plaza at Wellington Green

The Plaza at Wellington Green Florida Commercial Real Estate

Location: Miami Beach, FL
Price:
$18,000,000
Square Footage:
57,221
Price / SF:
$315
Seller:
Sunlight Properties
Buyer: 
JBL Asset Management, LLC

23) Retail Property: Trail Plaza

Trail Plaza Florida Commercial Real Estate

Location: Wellington, FL
Price:
$16,500,000
Square Footage:
88,066
Price / SF:
$187
Seller:
James L. Case
Buyer: 
Investments Limited

24) Retail Property: Palm Beach Gardens

Palm Beach Gardens Commercial Real Estate

Location: Palm Beach Gardens, FL
Price:
$16,500,000
Square Footage:
104,481
Price / SF:
$158
Seller:
Kimco Realty Corporation
Buyer: 
Drury Development Corporation

25) Retail Property: Centre at Cutler Bay

Centre at Cutler Bay Top South Florida Shopping Centers 2019

Location: Cutler Bay, FL
Price:
$16,000,000
Square Footage:
105,091
Price / SF:
$152
Seller:
BF Group, LLC
Buyer: 
MMG Equity Partners

Top South Florida Retail Shopping Center Transactions Table 2019

RankCenter NameSale PriceSFPrice/SFSellerBuyerLocation
1Southern Palm Crossing Shopping Center$96,750,000349,044$277Shopcore PropertiesInvenTrust Properties Corp.West Palm Beach
2Doral Plaza Shopping Center$70,000,000113,594$616Shopcore PropertiesPublix Super Markets Inc.Doral
3Homestead Pavilion$62,250,000295,702$211SITE Centers Corp.CREC Capital, MMG Equity Partners, Highline Real EstateHomestead
4Boynton Commons$50,000,000210,489$238InvenTrust Properties Corp.Carlyle Management CompanyBoynton Beach
517th Street Quay$43,000,00072,946$589Hudson Capital GroupMast CapitalFort Lauderdale
5The Pointe at Wellington Green$43,000,000107,368$400Sunlight PropertiesStairs ManagementWellington
7Riverbend Marketplace$38,500,00080,331$479Gatlin Development CompanyNorthbridge Investment Management Inc.Fort Lauderdale
8Pembroke Place$37,525,000158,512$237Sterling OrganizationLongpoint Realty PartnersPembroke Pines
9Walgreens$33,050,00022,875$1,445Sterling Equity Realty LLCAllied Partners Inc.Miami Beach
10Disston Plaza$27,750,000129,192$215Forge Capital PartnersPreferred Apartment Communities, Inc.Saint Petersburg
11Wellington Green Square$26,125,00091,568$285RREEF Management LLCDr. Esmail ShahidiWellington
12Bluffs Square Shoppes$25,900,000123,917$209Regency Centers CorporationSterling OrganizationJupiter
13Toys “R” Us Dadeland$25,000,00042,000$595Wells Fargo & Co., NABomnin AutomotiveKendall
14The Shoppes at Southern Palms$23,550,000200,889$117Garrison Investment GroupMiami ManagerWest Palm Beach
15Best Buy, Bed Bath& Beyond, and Party City$22,250,00093,791$237Southern Centers Development Corp. and Jennifer HershonRK CentersPembroke Pines
16318 – 338 Lincoln Road$20,500,00022,774$900Louise Z. Osius Inter Vivos TrustRFR Holdings LLCMiami Beach
16Polo Grounds$20,500,000129,895$158Forge Capital PartnersPreferred Apartment Communities, Inc.West Palm Beach
18Palm Square$20,475,00077,621$264Bar Invest GroupBar Invest GroupHollywood
19Shoppes of Forest Hill$19,600,000112,364$174Trinity Place Holdings Inc.Riverstone Capital GroupWest Palm Beach
20Whitworth Farms$19,350,00088,424$219MMG Equity Partners & Global Fund InvestmentsJuster DevelopmentDelray Beach
21CVS$18,320,00012,443$1,472Eugenio MarrapodiKLNBMiami Beach
22The Plaza at Wellington Green$18,000,00057,221$315Sunlight PropertiesJBL Asset Management, LLCWellington
23Trail Plaza$16,500,00088,066$187James L. CaseInvestments LimitedDeerfield Beach
23Palm Beach Gardens$16,500,000104,481$158Kimco Realty CorporationDrury Development CorporationPalm Beach Gardens
25Centre at Cutler Bay$16,000,000105,091$152BF Group, LLCMMG Equity PartnersCutler Bay


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