MIAMI—Palm Plaza, a 74,575-square-foot shopping center inPompano Beach, FL and Oakbrook Plaza, a 66,103-square-foot shoppingcenter in Lauderhill, FL have traded hands. Theretail assets sold for a collective $14.224million.
Specifically, Palm Plaza sold for $7.5 million. Oakbrook Plazasold for $6.725.
"These transactions are indicative of the surge in investorinterest for multi-tenant properties in Broward County," saysDouglas K. Mandel, a senior vice presidentinvestments in Marcus & Millichap's FortLauderdale office. "The heightened competition forquality assets has pushed buyers to consider centers outside thecity of Fort Lauderdale. Both of these properties are centrallylocated, well-maintained and stabilized."
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