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| Beth Azor |
Sunrise, FL—Taking advantage of the sizzling hot retail market in South Florida, a partnership managed by Beth Azor has sold a neighborhood shopping center for $13.85 million.
The Sawgrass Home Design Center is
located at 13001-13191 West Sunrise Blvd. in Sunrise, directly fronting the
world-renowned Sawgrass Mills outlet mall which attracts over 20 million
visitors a year.
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| The Sawgrass Home Design Center is located at 13001-13191 West Sunrise Blvd. in Sunrise, FL |
FVP Sawgrass LLC acquired the 70,642-square-foot center for $5.5 million in late 2011, more than doubling their investment.
Azor Advisory Services represented FVP in
the transaction. Apogee Realty Inc. and Capital Group Realty 2004
LLC represented the buyer, Harvest International Investments.
“The demand for strong-performing retail centers
in densely populated areas of South Florida is more intense than it has been in
many years,” said Azor, founder and CEO of Weston-based Azor Advisory
Services.
“There is virtually no new development and very little product available for sale, so we decided to capitalize on the market.”
Azor Advisory services leased and managed the
multi-tenant shopping center which was built in 1994 and most recently
renovated in 2021.
It is currently 83% leased with key
tenants that include DXL Casual Male, Bella Salon Suites, Lighting Outlet,
Compass Research and Caremax.
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Plantation Town Center 2140 West Sunrise Boulevard
in Plantation, FL
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In addition to Sawgrass Mills, the retail center also benefits from being next door to a massive mixed-used development planning to have over 2,000 homes, and near the arena where the Florida Panthers NHL team plays.
This is the second neighborhood shopping center
that Azor and her investors sold in West Broward over the past half year.
In August 2022, a joint venture between
Miami and Spanish real estate firms paid $22 million for the 70,369
square-foot, Aldi-anchored Plantation Town Center located less than a
mile away at 2140 West Sunrise Blvd. in Plantation.
CONTACT:
Todd Templin
Executive Vice President
BoardroomPR
O 954-370-8999
C 954-290-0810
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