MIAMI—Kimco remains active on the retail acquisition-disposition front. The latest sale is in the Fort Lauderdale suburb of Margate, FL.
Kimco just sold Peppertree Plaza, a 264,037-square-foot retail center here. HFF senior managing director Daniel Finkle and managing director Luis Castillo lead the team representing the seller.
“Peppertree Plaza's proven tenancy, in-fill location and strong demographics made this a highly-desirable grocery-anchored retail center,” Finkle tells GlobeSt.com. Peppertree Plaza is 86.7% leased to tenants like Winn-Dixie, Sam Ash Music, Office Depot, Golden Corral and Dollar Tree.
Peppertree Plaza sits on 34.07 acres at 5400-5688 West Sample Road in Margate. That's about 15 miles north of Fort Lauderdale and puts the retail asset between two of Central Broward County's busiest streets, Sample Road and US-441/State Road 7.
Recently, Kimco sold another Winn-Dixie anchored shopping center in Palm Beach County and has been actively trading in markets across the country. As of March 31, Kimco owned interests in 835 shopping centers spanning 122 million square feet of leasable space across 42 states, Puerto Rico, Canada, Mexico and South America.
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