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Kimco Realty buys two Broward retail centers for $109M
The Tamarac Sunshine Plaza deal totals $56 million for a 245,744-square-foot shopping center anchored by Publix and Marshalls.
Kimco Realty has acquired two grocery-anchored retail centers in Broward County, Florida, for a combined $109 million, Commercial Observer reports, citing property records.
The Jericho, New York-based REIT paid $56 million for Sunshine Plaza, a 245,744-square-foot property at 4017 to 4299 West Commercial Boulevard in Tamarac. The 19-acre shopping center is anchored by Publix and Marshalls and also includes tenants such as Crunch Fitness, Krispy Kreme, and Subway.
In a separate purchase, Kimco paid $53 million for Pompano Marketplace at 1115 and 1117 South Federal Highway. The 254,749-square-foot center is also about 19 acres and features a Walmart Neighborhood Market anchor, with additional tenants including Ross Dress for Less, Carrabba’s Italian Grill, and TD Bank.
Commercial Observer also notes that KPR Centers bought Sunshine Plaza for $28.5 million in 2014. Kimco owns 589 properties nationwide, including 44 across South Florida, and representatives for Kimco Realty and KPR Centers did not immediately respond to a request for comment.