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MIAMI-Trading prices for retail assets in three different South Florida markets range from $50 per sf for a stand-alone facility here to $164.39 per sf for a 6,600-sf shopping strip in Coral Springs. A 16,675-sf strip center and warehouse in Fort Myers commands $70.46 per sf.

BankAtlantic paid $2 million for a 40,000-sf former Miami Subs located at 15725 S. Dixie Highway. It also paid $350,000 to buy out the existing lease, which adds $8.75 per sf to the $50-per-sf cost of the property. It will demolish the existing building to make way for a branch with a drive-thru. Jeremy S. Larkin, president, and H. Josh Rodstein, director of locally based NAI Miami, represented the bank.

Edward Moses sold the 6,600-sf shopping strip at 9871 W. Sample Rd. in Coral Springs to local investor, Nick Lambidis, for nearly $1.1 million. The asset was built in 1985 and is within the Coral Springs Community Redevelopment Area. Tenants include Allstate Insurance, Coral Springs Family Health Center, Knock On Wood Floors, Edward Jones and Professional Tailoring.

Barry Wolfe of the Fort Lauderdale office of Marcus & Millichap teamed with David Wells of Marcus & Millichap's Tampa office in marketing the property. Kenny Giacco and David Bradley in Marcus & Millichap's Fort Lauderdale office represented the buyers.

Wells teamed with Marc Strauss in the Fort Lauderdale office to market the 16,675-sf Sungold Plaza at 2960 Cleveland Ave. in Fort Myers for owner Judy Shellhorn. They also secured and represented the buyer, Pipeline Properties Inc. The selling price approached $1.2 million. The property consists of a 12,675-sf retail strip and a 4,000-sf warehouse building behind it. Major tenants include Fan Fan, American Nail Design, Chilly's Kickstart, China Taste and Creative Design.

Instant Insights /

Retail Asset Sale Prices Range From $50 to $164 Per SF

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