Fort Lauderdale Strip Center Changes Hands
- Oct 04, 2018
Berger Commercial Realty/CORFAC International has facilitated the $1.2 million sale of Midland Plaza in Fort Lauderdale, Fla., on behalf of buyer Adnan Enterprises LLC. Horn Land TR #1 was the seller of the 8,800-square-foot retail strip center.
Located at 201-203 S.W. 27th Ave., the 1968-built asset is directly across from the new Riverbend Marketplace, a 310,000-square-foot shopping center anchored by the city’s first-ever Walmart Supercenter. Midland Plaza is easily accessible from Interstate 95.
“At 100 percent occupancy, Midland Plaza was a great investment opportunity for the buyer. With most of the tenants paying below market rent, there is plenty of upside. This, coupled with all of the new development activity in the area, made Midland Plaza a great opportunity for the new investors,” said Berger Commercial Realty/CORFAC International Senior Sales Associate Jonathan Thiel, in prepared remarks.
Thiel worked with Sales Associate Lawrence Oxenberg in arranging the transaction. At the beginning of the year, Thiel was also involved in a leasing deal at Miami’s Plantation Technology Park.
Image via Google Street View