Point Plaza shopping center, Tamarac, FL
TAMARAC, FL, June 6, 2013 – Marcus & Millichap Real
Estate Investment Services, the nation’s largest real estate investment
services firm, has announced the sale of Point Plaza, a 28,842-square
foot shopping strip in Tamarac, FL. The asset commanded a sales price of
$3,850,000 representing $133.48 per square foot.
 |
| Douglas K. Mandel |
Douglas K. Mandel, a First Vice President
Investments, and Robert J. Granda, an Associate, both in Marcus &
Millichap’s Ft. Lauderdale office, represented the seller, a private investor
from Pembroke Pines, FL. The buyer was
a local private investor who purchased the property as part of a
1031-exchange.
The property is situated on a large 3.45 acre in-fill site
offering 132 parking spaces and direct frontage on Nob Hill Road. Point Plaza
is located at 7118 Nob Hill Road in Tamarac, FL.
“Investors remain active in Broward County, building on a
surge in retail deals in the final two quarters of 2012.
"With more optimism in
the market, buyers have a longer-term investment horizon than in previous years
and are seeking higher returns in real estate than is available in many other
investment classes.
 |
| Robert J. Granda |
"Exchange buyers are scouting the area for opportunities and
many of these investors are looking to move up the quality scale. This property proved attractive to investors
due to its historical occupancy rates as well as its unique positioning as a
service-oriented plaza for the local area.
"The property has a great mix of local tenants - of which many of them
have been in place prior to the recession of 2010-2011,” says Granda.
Point Plaza is fully-stabilized at 100 percent occupancy and
about 60 percent of its current tenants have been in place for more than 10
years. Its tenants are primarily physicians offering cardiology, chiropractic,
dental and orthopedic services.
For a complete copy of the company’s news release, please
contact:
Gregory Matus
Regional Manager
Vice President
Fort Lauderdale, FL
(954) 245-3400
No comments:
Post a Comment