2019 is going down as another successful year for South Florida commercial real estate. Across the board of primary stats: vacancy levels, asking rates, and absorption, things have been positive as the decade is coming to a close. One of the most significant contributors to the upbeat sentiment in South Florida retail, particularly, is with the shopping center transactions. Compared to 2018’s retail transactions, 2019 saw more high value transactions. For example, the top transaction in 2019 was 21% higher in value than the top transaction in 2018.
These stats and transactions are fueling the optimism surrounding the retail market overall, and commercial retail experts foresee a continued evolution in the market for 2020.
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 2019.
Top South Florida Retail Shopping Center Transactions List 2019
1) Retail Property: Southern Palm Crossing Shopping Center
Location: West Palm Beach, FL
Price: $96,750,000
Square Footage: 349,044
Price / SF: $277
Seller: Shopcore Properties
Buyer: InvenTrust Properties Corp.
2) Retail Property: Doral Plaza Shopping Center
Location: Doral, FL
Price: $70,000,000
Square Footage: 113,594
Price / SF: $616
Seller: Shopcore Properties
Buyer: Publix Super Markets Inc.
3) Retail Property: Homestead Pavilion
Location: Homestead, FL
Price: $62,250,000
Square Footage: 295,702
Price / SF: $211
Seller: SITE Centers Corp.
Buyer: CREC Capital, MMG Equity Partners, Highline Real Estate
4) Retail Property: Boynton Commons
Location: Boynton Beach, FL
Price: $50,000,000
Square Footage: 210,489
Price / SF: $238
Seller: InvenTrust Properties Corp.
Buyer: Carlyle Management Company
5) Retail Property: 17th Street Quay
Location: Fort Lauderdale, FL
Price: $43,000,000
Square Footage: 72,946
Price / SF: $589
Seller: Hudson Capital Group
Buyer: Mast Capital
6) Retail Property: The Pointe at Wellington Green
Location: Wellington, FL
Price: $43,000,000
Square Footage: 107,368
Price / SF: $400
Seller: Sunlight Properties
Buyer: Stairs Management
7) Retail Property: Riverbend Marketplace
Location: Fort Lauderdale, FL
Price: $38,500,000
Square Footage: 80,331
Price / SF: $479
Seller: Gatlin Development Company
Buyer: Northbridge Investment Management Inc.
8) Retail Property: Pembroke Place
Location: Pembroke Pines, FL
Price: $37,525,000
Square Footage: 158,512
Price / SF: $237
Seller: Sterling Organization
Buyer: Longpoint Realty Partners
9) Retail Property: Walgreens
Location: Miami Beach, FL
Price: $33,050,000
Square Footage: 22,875
Price / SF: $1,445
Seller: Sterling Equity Realty
Buyer: Allied Partners Inc.
10) Retail Property: Disston Plaza
Location: Saint Petersburg, FL
Price: $27,750,000
Square Footage: 129,192
Price / SF: $215
Seller: Forge Capital Partners
Buyer: Preferred Apartment Communities Inc.
11) Retail Property: Wellington Green Square
Location: Wellington, FL
Price: $26,125,000
Square Footage: 91,568
Price / SF: $285
Seller: RREEF Management LLC
Buyer: Dr. Esmail Shahidi
12) Retail Property: Bluffs Square Shoppes
Location: Jupiter, FL
Price: $25,900,000
Square Footage: 123,917
Price / SF: $209
Seller: Regency Centers Corporation
Buyer: Sterling Organization
13) Retail Property: Toys “R” Us Dadeland
Location: Kendall, FL
Price: $25,000,000
Square Footage: 42,000
Price / SF: $595
Seller: Wells Fargo & Co., NA
Buyer: Bomnin Automotive
14) Retail Property: The Shoppes at Southern Palms
Location: West Palm Beach, FL
Price: $23,550,000
Square Footage: 200,889
Price / SF: $117
Seller: Garrison Investment Group
Buyer: Miami Manager
15) Retail Property: Best Buy, Bed Bath & Beyond, and Party City
Location: Pembroke Pines, FL
Price: $22,250,000
Square Footage: 93,791
Price / SF: $237
Seller: Southern Centers Development Corp. and Jennifer Hershon
Buyer: RK Centers
16) Retail Property: 318 – 338 Lincoln Road
Location: Miami Beach, FL
Price: $20,500,000
Square Footage: 22,774
Price / SF: $900
Seller: Louise Z Osius Inter Vivos Trust
Buyer: RFR Holdings LLC
17) Retail Property: Polo Grounds
Location: West Palm Beach, FL
Price: $20,500,000
Square Footage: 129,895
Price / SF: $158
Seller: Forge Capital Partners
Buyer: Preferred Apartment Communities, Inc.
18) Retail Property: Palm Square
Location: Hollywood, FL
Price: $20,475,000
Square Footage: 77,621
Price / SF: $264
Seller: Bar Invest Group
Buyer: Bar Invest Group
19) Retail Property: Shoppes of Forest Hill
Location: West Palm Beach, FL
Price: $19,600,000
Square Footage: 112,364
Price / SF: $174
Seller: Trinity Place Holdings, Inc.
Buyer: Riverstone Capital Group
20) Retail Property: Whitworth Farms
Location: Delray, FL
Price: $19,350,000
Square Footage: 88,424
Price / SF: $219
Seller: MMG Equity Partners & Global Fund Investments
Buyer: Juster Development
21) Retail Property: CVS
Location: Miami Beach, FL
Price: $18,320,000
Square Footage: 12,443
Price / SF: $1,472
Seller: Eugenio Marrapodi
Buyer: KLNB
22) Retail Property: The Plaza at Wellington Green
Location: Miami Beach, FL
Price: $18,000,000
Square Footage: 57,221
Price / SF: $315
Seller: Sunlight Properties
Buyer: JBL Asset Management, LLC
23) Retail Property: Trail Plaza
Location: Wellington, FL
Price: $16,500,000
Square Footage: 88,066
Price / SF: $187
Seller: James L. Case
Buyer: Investments Limited
24) Retail Property: Palm Beach Gardens
Location: Palm Beach Gardens, FL
Price: $16,500,000
Square Footage: 104,481
Price / SF: $158
Seller: Kimco Realty Corporation
Buyer: Drury Development Corporation
25) Retail Property: Centre at Cutler Bay
Location: Cutler Bay, FL
Price: $16,000,000
Square Footage: 105,091
Price / SF: $152
Seller: BF Group, LLC
Buyer: MMG Equity Partners
Top South Florida Retail Shopping Center Transactions Table 2019
| Rank | Center Name | Sale Price | SF | Price/SF | Seller | Buyer | Location |
| 1 | Southern Palm Crossing Shopping Center | $96,750,000 | 349,044 | $277 | Shopcore Properties | InvenTrust Properties Corp. | West Palm Beach |
| 2 | Doral Plaza Shopping Center | $70,000,000 | 113,594 | $616 | Shopcore Properties | Publix Super Markets Inc. | Doral |
| 3 | Homestead Pavilion | $62,250,000 | 295,702 | $211 | SITE Centers Corp. | CREC Capital, MMG Equity Partners, Highline Real Estate | Homestead |
| 4 | Boynton Commons | $50,000,000 | 210,489 | $238 | InvenTrust Properties Corp. | Carlyle Management Company | Boynton Beach |
| 5 | 17th Street Quay | $43,000,000 | 72,946 | $589 | Hudson Capital Group | Mast Capital | Fort Lauderdale |
| 5 | The Pointe at Wellington Green | $43,000,000 | 107,368 | $400 | Sunlight Properties | Stairs Management | Wellington |
| 7 | Riverbend Marketplace | $38,500,000 | 80,331 | $479 | Gatlin Development Company | Northbridge Investment Management Inc. | Fort Lauderdale |
| 8 | Pembroke Place | $37,525,000 | 158,512 | $237 | Sterling Organization | Longpoint Realty Partners | Pembroke Pines |
| 9 | Walgreens | $33,050,000 | 22,875 | $1,445 | Sterling Equity Realty LLC | Allied Partners Inc. | Miami Beach |
| 10 | Disston Plaza | $27,750,000 | 129,192 | $215 | Forge Capital Partners | Preferred Apartment Communities, Inc. | Saint Petersburg |
| 11 | Wellington Green Square | $26,125,000 | 91,568 | $285 | RREEF Management LLC | Dr. Esmail Shahidi | Wellington |
| 12 | Bluffs Square Shoppes | $25,900,000 | 123,917 | $209 | Regency Centers Corporation | Sterling Organization | Jupiter |
| 13 | Toys “R” Us Dadeland | $25,000,000 | 42,000 | $595 | Wells Fargo & Co., NA | Bomnin Automotive | Kendall |
| 14 | The Shoppes at Southern Palms | $23,550,000 | 200,889 | $117 | Garrison Investment Group | Miami Manager | West Palm Beach |
| 15 | Best Buy, Bed Bath& Beyond, and Party City | $22,250,000 | 93,791 | $237 | Southern Centers Development Corp. and Jennifer Hershon | RK Centers | Pembroke Pines |
| 16 | 318 – 338 Lincoln Road | $20,500,000 | 22,774 | $900 | Louise Z. Osius Inter Vivos Trust | RFR Holdings LLC | Miami Beach |
| 16 | Polo Grounds | $20,500,000 | 129,895 | $158 | Forge Capital Partners | Preferred Apartment Communities, Inc. | West Palm Beach |
| 18 | Palm Square | $20,475,000 | 77,621 | $264 | Bar Invest Group | Bar Invest Group | Hollywood |
| 19 | Shoppes of Forest Hill | $19,600,000 | 112,364 | $174 | Trinity Place Holdings Inc. | Riverstone Capital Group | West Palm Beach |
| 20 | Whitworth Farms | $19,350,000 | 88,424 | $219 | MMG Equity Partners & Global Fund Investments | Juster Development | Delray Beach |
| 21 | CVS | $18,320,000 | 12,443 | $1,472 | Eugenio Marrapodi | KLNB | Miami Beach |
| 22 | The Plaza at Wellington Green | $18,000,000 | 57,221 | $315 | Sunlight Properties | JBL Asset Management, LLC | Wellington |
| 23 | Trail Plaza | $16,500,000 | 88,066 | $187 | James L. Case | Investments Limited | Deerfield Beach |
| 23 | Palm Beach Gardens | $16,500,000 | 104,481 | $158 | Kimco Realty Corporation | Drury Development Corporation | Palm Beach Gardens |
| 25 | Centre at Cutler Bay | $16,000,000 | 105,091 | $152 | BF Group, LLC | MMG Equity Partners | Cutler Bay |
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