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Avison Young closes $6.28M sale of Florida Career College Plaza, a fully occupied two-tenant plaza totaling 34,904 SF in Margate, FloridaFebruary 1, 2022
Margate, Florida – Avison Young’s Florida Capital Markets Group closed the $6.28 million sale of Florida Career College (FCC) Plaza, which totals 34,904 square feet and spans 5.94 acres at 3271-3285 N. State Road 7 in Margate, Florida. The plaza is fully occupied by Florida Career College and a children’s daycare provider called The Toddler Club. The sale provides the buyer with strong in-place cash flow from long-term tenants with the additional benefit of future redevelopment potential.
Avison Young Principals David Duckworth; John K. Crotty, CCIM; Michael T. Fay, who is also Managing Director of the firm’s Miami operations; and Vice President Brian C. de la Fé represented the seller, Penn Dutch Plaza, LLC. The buyer was Barron Real Estate, Inc.
“Developers are taking a strategic approach to their land investments due to a lack of vacant land in Broward County,” said Duckworth. “Purchasing cash flow assets like FCC Plaza allows the buyer to control a larger inventory of land for future development.”
Adjacent to FCC Plaza sits a 124,000-square-foot retail center anchored and owned by Broward Meats, a well-established local grocer, with YouFit as the second occupant. Fully-leased outparcels include two medical buildings, a retail building, and a bank.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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For more information:
David Duckworth, Principal, Avison Young: 954.938.1806
John K. Crotty, CCIM, Principal, Avison Young: 305.447.7865
Michael T. Fay, Principal and Managing Director, Avison Young – Miami: 305.447.7842