DANIA BEACH, FL—A nearly 13-acre parcel has changed hands and will be part of a land assemblage that will be home to a major mixed-use project here to be developed by a joint venture of Masters Development of Aventura, FL and Kimco Realty Corp. of New Hyde Park, NY.

Marcus & Millichap reported the sale of 12.98 acres of commercial-zoned land located in Dania Beach for $6.3 million. Ryan T. Shaw, a senior associate in Marcus & Millichap's Miami office, and Bradley A. Addicks, an associate in Marcus & Millichap's Charlotte Uptown office, represented the seller, California-based Colony Capital and the buyer, a joint venture between Masters Development and Kimco Realty Corp. in NY.

“This was an excellent opportunity to invest in a vibrant and growing South Broward market next to I-95. The buyer intends to utilize this land parcel as well as other surrounding properties to develop a 1.3-million-square-foot 'open air' shopping center with retail, apartments and a hotel. The project, dubbed Dania Live, will revitalize Dania Beach,” says Marcus & Millichap's Shaw.

The property was rezoned through the purchase process to allow for the mixed-use development of approximately 100 acres. The site is located approximately one half mile from the intersection of Stirling Road and I-95 and has a frontage on North Bryan Road, West Dania Beach Boulevard, and NW 1st Street.

Instant Insights /

Dania Beach Land Sale to Facilitate 'Dania Live' Project

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