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 for South Florida commercial real estate. 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.

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 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

Rank Center Name Sale Price SF Price/SF Seller Buyer Location
1 Southern Palm Crossing Shopping Center $96,750,000 349,044 $277 Shopcore Properties InvenTrust Properties Corp. West Palm Beach
2 Doral Plaza Shopping Center $70,000,000 113,594 $616 Shopcore Properties Publix Super Markets Inc. Doral
3 Homestead Pavilion $62,250,000 295,702 $211 SITE Centers Corp. CREC Capital, MMG Equity Partners, Highline Real Estate Homestead
4 Boynton Commons $50,000,000 210,489 $238 InvenTrust Properties Corp. Carlyle Management Company Boynton Beach
5 17th Street Quay $43,000,000 72,946 $589 Hudson Capital Group Mast Capital Fort Lauderdale
5 The Pointe at Wellington Green $43,000,000 107,368 $400 Sunlight Properties Stairs Management Wellington
7 Riverbend Marketplace $38,500,000 80,331 $479 Gatlin Development Company Northbridge Investment Management Inc. Fort Lauderdale
8 Pembroke Place $37,525,000 158,512 $237 Sterling Organization Longpoint Realty Partners Pembroke Pines
9 Walgreens $33,050,000 22,875 $1,445 Sterling Equity Realty LLC Allied Partners Inc. Miami Beach
10 Disston Plaza $27,750,000 129,192 $215 Forge Capital Partners Preferred Apartment Communities, Inc. Saint Petersburg
11 Wellington Green Square $26,125,000 91,568 $285 RREEF Management LLC Dr. Esmail Shahidi Wellington
12 Bluffs Square Shoppes $25,900,000 123,917 $209 Regency Centers Corporation Sterling Organization Jupiter
13 Toys “R” Us Dadeland $25,000,000 42,000 $595 Wells Fargo & Co., NA Bomnin Automotive Kendall
14 The Shoppes at Southern Palms $23,550,000 200,889 $117 Garrison Investment Group Miami Manager West Palm Beach
15 Best Buy, Bed Bath& Beyond, and Party City $22,250,000 93,791 $237 Southern Centers Development Corp. and Jennifer Hershon RK Centers Pembroke Pines
16 318 – 338 Lincoln Road $20,500,000 22,774 $900 Louise Z. Osius Inter Vivos Trust RFR Holdings LLC Miami Beach
16 Polo Grounds $20,500,000 129,895 $158 Forge Capital Partners Preferred Apartment Communities, Inc. West Palm Beach
18 Palm Square $20,475,000 77,621 $264 Bar Invest Group Bar Invest Group Hollywood
19 Shoppes of Forest Hill $19,600,000 112,364 $174 Trinity Place Holdings Inc. Riverstone Capital Group West Palm Beach
20 Whitworth Farms $19,350,000 88,424 $219 MMG Equity Partners & Global Fund Investments Juster Development Delray Beach
21 CVS $18,320,000 12,443 $1,472 Eugenio Marrapodi KLNB Miami Beach
22 The Plaza at Wellington Green $18,000,000 57,221 $315 Sunlight Properties JBL Asset Management, LLC Wellington
23 Trail Plaza $16,500,000 88,066 $187 James L. Case Investments Limited Deerfield Beach
23 Palm Beach Gardens $16,500,000 104,481 $158 Kimco Realty Corporation Drury Development Corporation Palm Beach Gardens
25 Centre at Cutler Bay $16,000,000 105,091 $152 BF Group, LLC MMG Equity Partners Cutler Bay


2 responses to “Top 25 South Florida Retail Shopping Center Transactions of 2019”

Leave a Reply

Your email address will not be published. Required fields are marked *