Press Release

CBRE Announces $17.1 Million Sale of Plantation Community Plaza & Office Villas in Plantation, Florida

2021 12월 21

CBRE facilitated the $17.1 million sale of Plantation Community Plaza and Office Villas, a mixed-use retail and office property in Plantation, Fla., to MMG Acquisition Group, LLC, a Miami-based entity managed by MMG Equity Partners.”

David Donnellan and Patricia Friend with CBRE represented the seller, IAC Properties, a Florida-based entity managed by Marvin Feinstein, in the transaction.”

The property includes a 35,850-square-foot, single-story, multi-tenant retail center located at 214-268 South University Drive, as well as 19,680 square feet of office space located directly behind the retail center. At the time of sale, Plantation Community Plaza was 85 percent leased to 17 retail tenants, including The Vitamin Shoppe and Relax the Back, among others. Office Villas was 96 percent leased.”

“This property is exceptionally well-located in the heart of the dynamic Plantation submarket, fronting University Drive just south of Broward Boulevard, and directly across from the Westfield Broward Mall,” said Mr. Donnellan, a Senior Vice President at CBRE. “While the property was built in 1975 and was in need of physical renovation, a very strong field of investors were attracted to this irreplaceable location.”

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.