Commercial Real Estate, Capital, Insurance, Leasing & Management

South Florida Business Journal: North Lauderdale shopping center sells for $13.58M

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The Promenade Shoppes in North Lauderdale sold for $13.58 million.

Arena North Lauderdale Shoppes LLC sold the 39,650-square-foot retail plaza at 7910 W. McNab Road to Zeniz Properties, managed by Roberto Alberro in Miami. Seacoast National Bank provided a $4.7 million mortgage to the buyer.

Franklin Street’s Adam J. Tiktin and Greg Matus represented the seller in the deal, which equated to $342 per square foot. They said the property sold for $395,000 over the initial list price.

Built on the 4.46-acre site in 2018, the Promenade Shoppes sold for the first time. It is fully leased. Recent tenants include SunSouth Health Center, T-Mobile, Cricket Wireless and Sarku Japan.

The deal is among many that show investors are confident in the Broward County retail market as the population grows and business improves.

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