South Florida Retail Report

CAPITAL MARKETS

Key Sales Transactions YTD 2021 COUNTY PROPERTY

Submarket

Seller/Buyer

SF

Price/$ Psf

Hudson Capital Group / Skad USA Properties

Broward

3400-3580 N Andrews Avenue

Fort Lauderdale

158,816 $23.4M/$147

Weingarten /JBL Asset Management

Broward

Flamingo Pines Plaza

SW Broward

139,628 $33.2M/$238

Royal Palm Beach/ Wellington

Royal Palm Beach Shopping Plaza LLC/Iberic Malls

Palm Beach

Royal Plaza

98,515 $10.0M/$102

Broward

The Shoppes Of Oakland Forest

Commercial Blvd Country Wide Mortgage Funding, LLC/ACS 2901 LLC 97,000 $10.7M/$110

Janoura Realty/Nob Hill Place Sunrise LLC Tricor International Corporation/Cobblestone USA LLC

Broward

10041-10125 Sunset Strip

Plantation

90,951

$23.5M/$258

Palm Beach

8811-8899 W Boynton Beach Blvd

Boynton/Lantana

88,788 $37.6M/$423

Northbridge Capital /A Plus Mini Storage

Miami

16500-16650 SW 88th Street

Kendall

78,644 $22.4M/$284

Rajen Properties LLC / CWS Acquisition, LLC

Miami

2690 SW 22nd Street

Coral Gables

69,299 $24.2M/$349

Investor interest in South Florida retail assets rebounded in 2021 after a severe decrease in the number of sales in 2020. Average sales price per square foot increased by 12% in 2021 compared to 2020 and by 25% compared to 2019. Grocery anchored retail centers were one of the hottest segments for investors in South Florida and the most resilient asset type during the pandemic. Capital Markets in South Florida’s retail market was influenced by Kimco, one of North America’s largest publicly traded owners and operators of shopping centers, merger with Weingarten Realty which included numerous properties in South Florida.

Average P/SF ($)

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