Top 21 South Florida Shopping Center Transactions of 2018

Jan 17
Top 21 South Florida Shopping Center Transactions of 2018

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 – $80,000,000Pines City Center Pembroke Pines Florida

Size: 178,080 SF
Price/ SF: $449
Sellers: Terra Group
Buyer: TA Realty
Location: Pembroke Pines, FL

2) Downtown Dadeland – $78,200,000Downtown Dadeland Miami Florida

Size: 127,235 SF
Price/ SF: $615
Sellers: Joint Venture between Pebb Capital and Duncan Hillsley
Buyer: Midtown Realty Group
Location: Miami, FL

3) Shoppes at Isla Verde – $73,750,000Shoppes at Isla Verde Wellington Florida

Size: 207,030 SF
Price/ SF: $356
Seller: Pebb Capital and PEBB Enterprises
Buyer: MetLife Investment Management
Location: Wellington, FL

4) Doral Commons – $71,600,000Doral Commons Publix Doral Florida

Size: 138,091 SF
Price/ SF: $518
Seller: Terra Group
Buyer: Jamestown
Location: Doral, FL

5) Festival Flea Market Mall – $56,000,000Festival Flea Market Mall Pompano Florida

Size: 262,000 SF
Price/ SF: $214
Seller: R/S Associates of Florida
Buyer: IMC Equity Group
Location: Pompano, FL

6) The Fountains of Miramar – $40,000,000The Fountains at Miramar Florida

Size: 139,329 SF
Price/ SF: $287
Seller: Blackstone Group
Buyer: Stockbridge Capital
Location: Miramar, FL

7) Neapolitan Way – $37,800,000Neopolitan Way Publix Naples Florida


Size:
 137,626 SF
Price/ SF: $275
Seller: Crow Holdings
Buyer: New Market Properties
Location: Naples, FL

8) Vista Shopping Center – $34,500,000Vista Shopping Center Hialeah Florida


Size:
 91,191 SF
Price/ SF: $378
Seller: Saglo Development Corporation
Buyer: Blackstone Real Estate Income Trust Inc.
Location: Hialeah, FL

9) Southgate Shopping Center – $28,000,000Southgate Shopping Center New Port Richey Florida

Size: 265,756 SF
Price/ SF: $105
Sellers: Brixmor
Buyer: DRA / Woolbright
Location: New Port Richey, FL

10) Magnolia Shoppes – $23,200,000Magnolia Shoppes Coral Springs Florida

Size: 114,118 SF
Price/ SF: $203
Sellers: Regency Centers Corporation
Buyer: Jimmy & Frances Williams
Location: Coral Springs, FL

11) Village Shoppes on 441 – $20,550,000Village Shoppes on 441 Royal Palm Beach Florida

Size: 289,970 SF
Price/SF: $72
Seller: CW Capital Asset Management
Buyer: JBL Asset Management
Location: Palm Beach, FL

12) Shoppes of Loggers Run – $18,500,000Shoppes of Loggers Run Coral Springs Florida

Size: 107,00 SF
Price/ SF: $173
Sellers: REMS USA Inc
Buyer: TMT Properties Inc
Location: Coral Springs, FL

13) Okee Square – $18,400,000
Okee Square West Palm Beach Florida

Size: 124,000SF
Price/ SF: $148
Sellers: Ashkenazy Acquisition Corporation
Buyer: Myron Vogel
Location: West Palm Beach, FL

14) The Enclave Shops at Coral Ridge – $17,875,000The Enclave Shops at Coral Ridge Florida

Size: 30,900 SF
Price/SF: $579
Seller: Stiles Corp.
Buyer: EEP Enterprises
Location: Ft Lauderdale, FL

15) Delray Commons – $17,000,000Delray Commons Delray Beach Florida

Size: 73,116 SF
Price/ SF: $233
Seller: Companies based in Weston & Key Biscayne
Buyer: TopValco (Kroger Subsidiary)

Location: Delray Beach, FL

 

16) Beachway Plaza – $15,600,000Beachway Plaza Dania Beach Florida Publix

Size: 60,376 SF
Price/ SF: $258
Seller: Edens
Buyer: RK Centers
Location: Dania Beach, FL

17) Tequesta Shoppes – $14,300,000Tequesta Shoppes Tequesta Florida

Size: 110,000 SF
Price/ SF: $130
Seller: SITE Centers
Buyer: Noble Properties
Location: Tequesta, FL

18) Jupiter Farms Shopping Center – $12,400,000Jupiter Farms Shopping Center Jupiter Florida

Size: 84,337 SF
Price/ SF: $147
Seller: Fairway Investments
Buyer: Gary & David Karp
Location: Jupiter, FL

19) Gateway Center – $11,850,000Gateway Center Sample Rd Florida

Size: 37,255 SF
Price/ SF: $318
Seller: Joseph Scarfone
Buyer: R/S Associates of Florida
Location: Lighthouse Point, FL

20) Pinecrest Center – $9,725,000Pinecrest Center Pinecrest Florida

Size: 28,932 SF
Price/ SF: $336
Seller: Richard Marlin
Buyer: MMG Equity Partners
Location: Pinecrest, FL

21) Target Lauderhill – $9,000,000Target Lauderhill Lauderhill Florida

Size: 174,000 SF
Price/ SF: $52
Seller: Target Corporation
Buyer: Three Amigos Lauderhill (MMG, Global Fund Investments, & The Estate Companies)
Location: Lauderhill, FL


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