Grocery-Anchored South Florida Center Sells

by Nate Hunter

Pompano Beach, Fla. — Winn Dixie anchors Palm Aire Marketplace.

Pompano Beach, Fla.  — Marcus & Millichap has brokered the sale of the 140,312-square-foot Palm Aire Marketplace in Pompano Beach. The center sold for approximately $20 million, according to Broward County public records. The property, which sits on 18.4 acres, is 87 percent occupied. Winn Dixie anchors the center. Other tenants include Radio Shack, Dollar Tree, Rent-A-Center and a UPS Store. Restaurants and outparcels for McDonald’s, Bank of America, Ruby Tuesday, CVS/pharmacy and JPMorgan Chase were also included in the transaction. Palm Aire Marketplace was originally built in 1977 and redeveloped in 1997. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office, along with Lori Schneider of the firm’s Fort Lauderdale office, represented the seller. Schneider also procured the buyer, a private investor from New York.

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