(Crystal Proenza is associate editor of RealEstateFlorida.)
HOLLYWOOD, FL- Manhasset, NY-based Milbrook Properties Ltd. hasacquired Hollywood Palms Shopping Center, a 210,864-sf retailplaza, for $26.5 million. The Publix-anchored property is locatedat the intersection of Taft Street and North 68th Avenue.
"This sale is part of a positive [retail] trend that willestablish value benchmarks allowing buyers to gauge pricing, whichwill benefit the overall investment market," says Adam Feinstein ofCushman & Wakefield, who represented seller Hollywood Palms LLCin the deal. The previous owner-backed by Daryl Stair, president ofPlantation-based Stair's Management-added value to the propertythrough renovations, an improved tenant lineup and additions overthe four years it owned the property.
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