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NADG Buys Florida Center for $31.5 Million

by Nate Hunter

Margate, Fla. — Lakewood Shopping Center is 236,679 square feet.

The center is located within an area with over 380,000 people in a five-mile radius.Margate, Fla.  — North American Development Group (NADG) has acquired the 236,679-square-foot Lakewood Shopping Center in Margate for $31.5 million. Marshalls, Ross Dress For Less and Staples anchor the center. Also included in the sale were outparcels occupied by Walgreens, Burger King, Applebee’s and Bank of America.

A Walmart Supercenter, TD Bank, Boston Market, Denny’s and a McDonald’s on the property are separately owned and were not included as part of the sale. Casey Rosen, Dennis Carson and Nikolas Kozy of CBRE Group’s Atlanta office represented the seller, a wholly owned subsidiary of Inland American Real Estate Trust, in the transaction.

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