Metro Miami Retail Center Sells for $17M
An affiliate of Investments Limited has acquired Palm Trails Plaza in Deerfield Beach, Fla.
An affiliate of Investments Limited has acquired the 76,067-square-foot Palm Trails Plaza in Deerfield Beach, Fla., for $17 million, according to CommercialEdge data. TSCG brokered the transaction on behalf of the seller, an affiliate of Savitar Realty Advisors.
The retail center is located at 1101 S. Military Trail, at the intersection of Military Trail and SW 10th Street in Broward County. The property, which was 100 percent leased at the time of the sale, is anchored by a Walmart Neighborhood Market store.
Anthony Blanco, partner & senior managing director of investment sales at TSCG, said in prepared remarks that this Walmart Market is among the most frequently visited of all the company’s Florida stores. Other tenants at Palm Trails Plaza include CarePlus Medical, UPS, Subway and Universal Hair Spa, according to CommercialEdge data.
Built in 1998 and renovated in 2012, the property also has parcels occupied by Regions Bank and Pollo Tropical. These parcels were not included in the sale.
Blanco, Marketing Coordinator Mallory Silva and Financial Analyst Nick Ureta formed the TSCG investment sales team that arranged the sale. According to Blanco, this is the eighth grocery-anchored retail sale by the team in the past eight months.