Compared to 2020, 2021 was a big year for South Florida commercial real estate in general as the economy saw a big boost from many new residents and companies moving in from other states. This factor coupled with the state’s relatively relaxed Covid-19 regulations allowed for businesses to breathe and people to circulate more freely. While many markets around the country / world were still adapting to the different waves of the virus, Florida held strong as a beacon of prosperity. This has been witnessed across many economic metrics and in different business sectors.
In comparison to last year’s South Florida shopping center transactions, the #1 sale in 2021 is more than 60% of the transaction value of the top sale in 2020. There are several other massive, high-value retail center transactions in the area with a total of three sales sales clearing the $100M price tag.
View our commercial properties in Florida to see what real estate assets are available for lease/sale.
We’ve put together the top shopping center transactions in South Florida for 2021.
Top South Florida Retail Shopping Center Transactions List 2021
1) Retail Property: Shops at Beacon Lakes
Location: Doral, FL
Price: $108,000,000
Square Footage: 431,774
Price / SF: $250
Seller: Stiles Retail Group
Buyer: AEW Capital Management
2) Retail Property: Hollywood Hills Plaza
Location: Hollywood, FL
Price: $100,156,977
Square Footage: 333,493
Price / SF: $300
Seller: Jamestown
Buyer: Kimco Realty Co & Blackstone REIT
3) Retail Property: Legacy Place
Location: Palm Beach Gardens, FL
Price: $101,660,000
Square Footage: 433,701
Price / SF: $234
Seller: GLL Real Estate Partners Inc
Buyer: Lone Star Funds
4) Retail Property: Flamingo Pines Shopping Center
Location: Penbroke Pines, FL
Price: $80,214,018
Square Footage: 123,864
Price / SF: $648
Seller: Jamestown
Buyer: Kimco Realty Co & Blackstone REIT
5) Retail Property: Pembroke Commons
Location: Pembroke Pines, FL
Price: $78,865,224
Square Footage: 288,162
Price / SF: $274
Seller: Jamestown
Buyer: Kimco Realty Co & Blackstone REIT
6) Retail Property: Fountains of Boynton Beach
Location: Boynton Beach, FL
Price: $76,093,323
Square Footage: 171,643
Price / SF: $443
Seller: Union Investment Real Estate GmbH
Buyer: DRA Advisors
7) Retail Property: Northridge Shopping Center
Location: Oakland Park, FL
Price: $68,584,845
Square Footage: 230,859
Price / SF: $297
Seller: Jamestown
Buyer: Kimco Realty Corporation & Blackstone REIT
8) Retail Property: Aventura Parksquare
Location: Aventura, FL
Price: $48,000,000
Square Footage: 50,149
Price / SF: $957
Seller: Integra Solutions, LLC
Buyer: MG3 Developers Group
9) Retail Property: Tamiami Trail Shops
Location: Miami, FL
Price: $45,838,773
Square Footage: 110,952
Price / SF: $413
Seller: Jamestown
Buyer: Kimco Realty Corporation & Blackstone REIT
10) Retail Property: South Harbor Plaza
Location: Ft Lauderdale, FL
Price: $38,673,785
Square Footage: 101,295
Price / SF: $382
Seller: Andrew L Martin
Buyer: Hudson Capital Group
11) Retail Property: Cobblestone Commons
Location: Boynton Beach, FL
Price: $37,546,915
Square Footage: 88,788
Price / SF: $423
Seller: Tricor International Corporation
Buyer: Fibra Uno Administracion SA de CV
11) Retail Property: Crystal Cove Commons
Location: North Palm Beach, FL
Price: $36,200,000
Square Footage: 60,993
Price / SF: $594
Seller: Black Lion Investment Group
Buyer: American Commercial Realty Corp
13) Retail Property: Boulan South Beach
Location: Miami Beach, FL
Price: $34,000,000
Square Footage: 35,482
Price / SF: $958
Seller: PGIM, Inc
Buyer: Regal Acquisitions
14) Retail Property: El Mercado
Location: Hialeah, FL
Price: $33,000,000
Square Footage: 96,041
Price / SF: $344
Seller: Stockbridge Capital Group, LLC
Buyer: Horizon Properties
15) Retail Property: Shoreland Arcade
Location: Miami, FL
Price: $29,500,000
Square Footage: 89,994
Price / SF: $328
Seller: ROK Enterprises, Inc
Buyer: Mana Common
16) Retail Property: 41 – 65 E Flagler St & 58 – 62 NE 1st St
Location: Miami, FL
Price: $27,200,000
Square Footage: 82,761
Price / SF: $329
Seller: TIR Prime Properties
Buyer: Mana Common
17) Retail Property: 100 N Miami Avenue, 173 NE 1st Street and 124 NE 2nd Avenue
Location: Miami, FL
Price: $25,370,000
Square Footage: 50,197
Price / SF: $505
Seller: SG & S Inc
Buyer: Mana Common
18) Retail Property: Miami Gardens Shopping Plaza
Location: Miami Gardens, FL
Price: $24,932,374
Square Footage: 114,342
Price / SF: $218
Seller: Jeffrey Rosenberg
Buyer: Elie Foureti
19) Retail Property: Wynwood Block
Location: Miami, FL
Price: $24,200,000
Square Footage: 23,000
Price / SF: $1,052
Seller: JZ Capital Management
Buyer: Joseph Cohen
20) Retail Property: Shoppes of Coral Way
Location: Coral Gables, FL
Price: $24,174,000
Square Footage: 69,299
Price / SF: $349
Seller: Arnold Wax
Buyer: B Developments
21) Retail Property: 215 – 225 Worth Ave
Location: Palm Beach, FL
Price: $23,760,000
Square Footage: 12,263
Price / SF: $1,938
Seller: Love Realty Group
Buyer: M Development, LLC
22) Retail Property: Oakland Park Festival Centre
Location: Oakland Park, FL
Price: $23,400,000
Square Footage: 158,816
Price / SF: $147
Seller: Amos Chess
Buyer: Hudson Capital Group
23) Retail Property: Pembroke Pines City Center UFC Fit
Location: Pembroke Pines, FL
Price: $23,000,000
Square Footage: 48,500
Price / SF: $474
Seller: Terra Group
Buyer: Mario Carrasco Hernandez
24) Retail Property: Las Villas Shopping Center
Location: Miami Gardens, FL
Price: $22,317,626
Square Footage: 84,543
Price / SF: $264
Seller: Jeffrey Rosenberg
Buyer: Elie Foureti
25) Retail Property: 1920 Alton
Location: Miami Beach, FL
Price: $21,250,000
Square Footage: 21,811
Price / SF: $974
Seller: Torolupa, Inc
Buyer: Boich Companies
Top South Florida Retail Shopping Center Transactions Table 2021
| Rank | Property Name | Buyer (True) Company | Seller (True) Company | Sum of Sale Price | Sum of Building SF | Sum of Price/SF | City |
| 1 | Shops at Beacon Lakes | AEW Capital Management | Stiles Retail Group | $ 108,000,000 | 431,774 | $ 250 | Doral |
| 2 | Hollywood Hills Plaza | Kimco Realty Corporation & Blackstoen REIT | Jamestown | $ 100,156,977 | 333,493 | $ 300 | Hollywood |
| 3 | Legacy Place | Lone Star Funds | GLL Real Estate Partners Inc | $ 101,660,000 | 433,701 | $ 234 | Palm Beach Gardens |
| 4 | Flamingo Pines Shopping Center | Kimco Realty Corporation & Blackstoen REIT | Jamestown | $ 80,214,018 | 123,864 | $ 648 | Pembroke Pines |
| 5 | Pembroke Commons | Kimco Realty Corporation & Blackstoen REIT | Jamestown | $ 78,865,224 | 288,162 | $ 274 | Pembroke Pines |
| 6 | Fountains of Boynton Beach | Union Investment Real Estate GmbH | DRA Advisors | $ 76,093,323 | 171,643 | $ 443 | Boynton Beach |
| 7 | Northridge Shopping Center | Kimco Realty Corporation & Blackstoen REIT | Jamestown | $ 68,584,845 | 230,859 | $ 297 | Oakland Park |
| 8 | Aventura Parksquare | MG3 Developers Group | Integra Solutions, LLC | $ 48,000,000 | 50,149 | $ 957 | Aventura |
| 9 | Tamiami Trail Shops | Kimco Realty Corporation & Blackstoen REIT | Jamestown | $ 45,838,773 | 110,952 | $ 413 | Miami |
| 10 | South Harbor Plaza | Hudson Capital Group | Andrew L. Martin | $ 38,673,785 | 101,295 | $ 382 | Fort Lauderdale |
| 11 | Cobblestone Commons | Fibra Uno Administracion SA de CV | Tricor International Corporation | $ 37,546,915 | 88,788 | $ 423 | Boynton Beach |
| 12 | Crystal Cove Commons | American Commercial Realty Corp. | Black Lion Investment Group | $ 36,200,000 | 60,993 | $ 594 | North Palm Beach |
| 13 | Boulan South Beach | Regal Acquisitions | PGIM, Inc. | $ 34,000,000 | 35,482 | $ 958 | Miami Beach |
| 14 | El Mercado | Horizon Properties | Stockbridge Capital Group, LLC | $ 33,000,000 | 96,041 | $ 344 | Hialeah |
| 15 | Shoreland Arcade | Mana Common | ROK Enterprises, Inc. | $ 29,500,000 | 89,994 | $ 328 | Miami |
| 16 | 41 – 65 E Flagler St. & 58 – 62 NE 1st St. | Mana Common | TIR Prime Properties | $ 27,200,000 | 82,761 | $ 329 | Miami |
| 17 | 100 N Miami Avenue, 173 NE 1st Street and 124 NE 2nd Avenue | Mana Common | SG & S Inc | $ 25,370,000 | 50,197 | $ 505 | Miami |
| 18 | Miami Gardens Shopping Plaza | Elie Foureti | Jeffrey Rosenberg | $ 24,932,374 | 114,342 | $ 218 | Miami Gardens |
| 19 | Wynwood Block | Joseph Cohen | JZ Capital Management | $ 24,200,000 | 23,000 | $ 1,052 | Miami |
| 20 | Shoppes of Coral Way | B Developments | Arnold Wax | $ 24,174,000 | 69,299 | $ 349 | Coral Gables |
| 21 | 215-225 Worth Ave | M Development, LLC | Love Realty Group | $ 23,760,000 | 12,263 | $ 1,938 | Palm Beach |
| 22 | Oakland Park Festival Centre | Hudson Capital Group | Amos Chess | $ 23,400,000 | 158,816 | $ 147 | Oakland Park |
| 23 | Pembroke Pines City Center UFC Fit | Mario Carrasco Hernandez | Terra Group | $ 23,000,000 | 48,500 | $ 474 | Pembroke Pines |
| 24 | Las Villas Shopping Center | Elie Foureti | Jeffrey Rosenberg | $ 22,317,626 | 84,543 | $ 264 | Miami Gardens |
| 25 | 1920 Alton | Boich Companies | Torolupa, Inc. | $ 21,250,000 | 21,811 | $ 974 | Miami Beach |