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| Shoppes of Hillsboro, Deerfield Beach, FL |
DEERFIELD BEACH, FL –
Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment
services firm with offices throughout the United States and Canada, announced
the sale of the Shoppes of Hillsboro, a
61,165-rentable-square-foot retail center in Deerfield Beach, Fla. The $10.5
million sales price equates to $172 per square foot.
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| Douglas K. Mandel |
Douglas K. Mandel, first vice president
investments and Barry M. Wolfe, vice
president investments, both in Marcus & Millichap’s Fort Lauderdale office,
represented the seller, Kenneth Israel Shoppes of Hillsboro LLC. The buyer is a
partnership between BREF Hillsboro and Dhanya of Miami Inc.
“Continuing a trend from 2014, retail real estate investors like what
they see in Broward County strip centers,” says Mandel. “Smaller neighborhood
centers requiring less management are particularly desirable.”
The center
is located at 2201-2260 West Hillsboro Blvd. in Deerfield Beach less than one
mile from access to Interstate 95 and Deerfield Beach’s Amtrak station and two
miles from the Sawgrass Expressway.
There are high-density multi-residential
communities to the north and south of the property, including Century Village,
a large, gated retirement community with more than 6,000 condominiums and over
100,000 square feet of entertainment, educational and other recreational space.
Shoppes of Hillsboro is a neighborhood retail plaza composed
of two parcels with an inline strip and two single-tenant pads.
The tenant mix
includes many types of businesses, including medical, financial, clerical, food
service, sundry retail and services.
For a complete copy
of the company’s news release, please contact:
Gina Relva, Public Relations Manager
(925) 953-1716
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