Douglas Mandel And Partners Negotiate Deerfield Beach Property Sale, Fetches $290 PSF

Jul 17, 2016 No Comments by

Marcus & Millichap Senior Vice President and Institutional Property Advisors (IPA) senior director Douglas K. Mandel, along with Vice President Investments and IPA director Benjamin H. Silver and Associate Richard Niewiadomski negotiated the sale of AT&T Plaza, a 7,920-square-foot retail center located at 411 South Federal Highway in Deerfield Beach.

Mandel Silver Niewiadomski411 Deerfield Investments, LLC, which was represented by Howard Bregman, Senior Associate with Marcus & Millichap’s Fort Lauderdale office, purchased the AT&T-anchored shopping center for $2,300,000, or $290 per square foot.

Mandel, Silver and Niewiadomski represented the seller, MALL411, LLC, in the transaction.

The deal closed July 9.

 

“This was an excellent opportunity to acquire a value-add, multi-tenant strip center along South Federal Highway in Deerfield Beach,” commented Niewiadomski. “The buyer, a private investor based out of Boca Raton, recognized the value of the property’s location along a dense retail corridor and in the ability to push rental rates.”

AT&T Plaza is located less than 1 mile south of Hillsboro Commons, a Publix-anchored power center that includes tenants such as LA Fitness, Starbucks, GNC, Office Depot, Chase Bank, CVS, and Tijuana Flats.

 

 

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Broward County Retail, Industry News, Retail
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