The Quay shopping center in the Harbordale neighborhood of Fort Lauderdale is set to undergo a redevelopment under its new owners.
The Quay, which consists of three buildings totaling 72,904 square feet and six yacht slips along the Intracoastal Waterway, recently traded to a joint venture between BH Group, PEBB Enterprises and Related Group for $48.5 million, according to Shopping Center Business. Plans to redevelop the seven-acre site include adding up to 361 residential units and 12,000 square feet of retail and restaurant space.
The property is immediately adjacent to approximately $2.3 billion of significant redevelopment projects including the Broward Convention Center Expansion and the Pier Sixty-Six mixed-use development.
JLL's Danny Finkle, Maurice Habif, Jorge Portela and Eric Williams represented the seller, a joint venture between Mast Capital and AEW Capital Management. JLL also procured the buyer.
Amerant Bank provided financing for the acquisition of the property, Shopping Center Business also reported.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
