Retail Property in Deerfield Beach Sold for $17 Million
A retail property located at 1101 South Military Trail in Deerfield Beach, Florida has been sold for $17 million.
In a recent deal, a retail property located at 1101 South Military Trail in Deerfield Beach, Florida has been sold for $17 million. The buyer in this transaction remains undisclosed, while the seller is a private investor. The deal was brokered by TSCG (The Shopping Center Group), a leading commercial real estate firm specializing in retail properties.
The property, which is classified as a retail asset, has a total area of 77,365 square feet. With a price per square foot of 219, the sale price of 17 million reflects the value of the property. The asset is located in a prime location on South Military Trail, a major thoroughfare in Deerfield Beach.
The retail property offers a range of amenities and features that make it an attractive investment opportunity. It is situated in a high-traffic area with excellent visibility and accessibility. The property benefits from its proximity to a variety of retail and dining options, as well as residential neighborhoods. This makes it an ideal location for businesses looking to attract customers and capitalize on the area’s strong demographics.
The buyer of the property has not been disclosed, but their acquisition of this retail asset indicates a strong interest in the Deerfield Beach market. The city has experienced significant growth in recent years, with a thriving economy and a growing population. This has led to increased demand for commercial real estate, particularly in retail and hospitality sectors.
The seller, a private investor, likely saw an opportunity to capitalize on the strong market conditions and secure a favorable return on their investment. The sale of the property for $17 million represents a significant profit for the seller, who likely purchased the asset at a lower price.
TSCG played a crucial role in facilitating the transaction. As a leading commercial real estate firm, they have extensive experience in the retail sector and a deep understanding of the Deerfield Beach market. Their expertise and network of industry contacts allowed them to identify the buyer and negotiate a successful deal.
Overall, the sale of the retail property at 1101 South Military Trail in Deerfield Beach for $17 million is a testament to the strength of the local market. The transaction highlights the demand for retail assets in the area and the potential for investors to achieve favorable returns. As the city continues to grow and attract new businesses, the retail property is well-positioned to benefit from the thriving local economy.