Broward Plaza Retail Center In Davie Sells For $12.8 Million

Broward Plaza, a 74,300 SF retail center in Davie, FL, which includes a Miami Grill outparcel, has sold for $12.8 million. El-Ad Broward Plaza LLC, an entity of El-Ad National Properties, acquired the 8.18-acre site from Saber Griffin Two, LLC. The transaction was overseen by Adam Tiktin of Tiktin Real Estate Investment Services (TREIS), who represented both the buyer and the seller. The closing took place June 25th and was financed with a $9 million loan provided by Ladder Capital.

Broward Plaza is located at 4803-4963 S. State Rd. 7 in Davie. The retail center is anchored by BrandsMartUSA, Dollar General, and Big Chef. The property had a total of 17 tenants and was 96% occupied at the time of sale. The buildings were constructed in 1975. The Miami Grill was renovated in 2017.

Broward Plaza is located on the southwest corner of South State Road 7 and Griffin Road. The property has excellent visibility with traffic counts in excess of 55,000 vehicles per day along South State Road 7 and over 30,000 vehicles per day along Griffin Road.