The seller was Gerig Group LLC, a private investor based in Florida.
|2121 North Federal Highway, Fort Lauderdale, FL|
The property is fully-occupied by a group of regional and national tenants who all have long-term leases in place.
The sellers, 2121 Investments LLC, built the retail center in 2013 on land owned by a third party.
The buyer, Boston Trader 2121, LLC purchased the building as part of a 1031 exchange.
Two other brokerage firms had previously attempted to market the property prior to Franklin Street getting the listing and closing the transaction.
“There’s significant investor demand for multi-tenant, unanchored retail centers in South Florida,” said Matus.