Shopping center in Oakland Park sells for $11M – The Real Deal
An 11.5-acre shopping center in Oakland Park sold for $10.7 million.
Records show Country Wide Mortgage Funding LLC sold two buildings at 2899-2901 West Oakland Park Boulevard that make up The Shoppes of Oakland Forest. The buyer is ACS 2901 LLC.
Country Wide Mortgage Funding LLC is managed by Scott Daiagi of Scozak Realty Trust. ACS 2901 LLC is managed by Andrew and Corey Shader. Andrew is the CFO of Alliance Marketing Corp. and Corey is CEO, according to its website.
The sale price equates to $109 per square foot.
Alex Rich of Rich Commercial Group brokered the deal.
Property records show Daiagi bought the shopping center in 2007 for $9 million.
Built in 1987, The Shoppes of Oakland Forest is 95 percent occupied and is anchored by Family Dollar, Peter Glenn and Coco Beauty Supplies, according to Rich Commercial Group. The two buildings total 97,418 square feet.
Retail centers have traded in Broward throughout the pandemic. In January, Raanan Katz’s real estate company RK Centers paid $11.5 million for a Best Buy-leased building in Plantation.
Other recent retail market deals in Broward County include a group of local investors selling part of a Margate shopping center anchored by a former Penn Dutch food center for $11.9 million, and Rosemurgy Properties selling a Pompano Beach shopping center for $10.1 million.
In November, an Oakland Park Walgreens sold to a Chicago-based private equity firm for $7.3 million.
Published at Fri, 19 Feb 2021 19:30:00 +0000