COOPER CITY, FL—The Shoppes of Cooper City retail center here has changed hands in a $7.2-million deal.

The 35,129-square-foot shopping center at 12125 Sheridan Street in Cooper City was sold by a Miami-based private investor to a private investor based in Argentina, according to Marcus & Millichap, which announced the sales deal.

Adam J. Tiktin, a first vice president investments in Marcus & Millichap's Miami office, had the exclusive listing to market the property on behalf of the seller. The buyer was secured and represented by Victor Pastor, an associate in Marcus & Millichap's Miami office.

The Shoppes of Cooper City, located on a 4.94-acre parcel with 35,129 leasable square feet, is currently 80% occupied by 15 tenants. The three largest leaseholders are: New Castle Realty, Dunkin Donuts and Northwestern Management.

“This was a value add opportunity for an investor to acquire a newly renovated center with 20% vacancy. Cooper City is one of Broward County's fastest growing communities and the property benefits from the neighborhood's strong demographics and high density of family households,” M&M's Tiktin says.