A national marketing program by the local office of Encino, CA-based Marcus & Millichap Real Estate Investment Brokerage Co. pulled off the coup by finding Seattle-based South Florida Holdings. The west coast buyer paid $195 per sf or $600,000 more than Ireland had initially listed the property for.

Gary Glusman and Marc Strauss, senior agents in M&M's Fort Lauderdale office and directors of the firm's National Retail Group, brokered the transaction.

"The sellers received several offers during the marketing period, but selected this buyer based on his 1031 tax-deferred exchange situation," Strauss says in a prepared statement.

The 10.72-acre Petsmart Plaza is at the crossroads of West Sunrise Boulevard and Flamingo Road, 10 miles west of Downtown Fort Lauderdale and 30 miles from Miami-Dade and Palm Beach. Nearby is the 2.2-million-sf Sawgrass Mills, Florida's largest shopping and entertainment destination with 40 name brand stores and restaurants.

Petsmart Plaza is shadow anchored by Petsmart and Borders Books. Regional and national credit tenants make up 70% of the tenant roll. Among them: Gateway Computers, Party Supermarket, Muscle Mag, Papa John's Pizza, Classic Nails, Cingular Wireless, PAK Mail Centers, Subway, State Farm Insurance, Divers Outlet and Kowne Japanese Restaurant.