Thursday, March 2, 2023

Azor-Led Partnership Sells Suburban South Florida Retail Center for $13.85 Million

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. 


 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.


     Plantation Town Center  2140 West Sunrise Boulevard

                                    in Plantation, FL  

 

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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