A subsidiary of Investments Limited acquired Palm Trails Plaza in Deerfield Beach, Florida.
A subsidiary of Limited investments acquired the 76,067 square foot Palm Trails Plaza in Deerfield Beach, Florida for $17 million, according to CommercialEdge data. TSCG negotiated the transaction on behalf of the seller, a subsidiary of Savitar Real Estate Advisors.
The mall is located at 1101 S. Military Trail, at the intersection of Military Trail and SW 10th Street in Broward County. The property, which was 100% leased at the time of the sale, is anchored by a Walmart Neighborhood Market store.
Anthony Blanco, partner and senior managing director of investment sales at TSCG, said in prepared remarks that this Walmart market is one of the most visited of any of the company’s Florida stores. Other Palm Trails Plaza tenants include CarePlus Medical, UPS, Subway and Universal Hair Spa, according to CommercialEdge data.
Built in 1998 and renovated in 2012, the property also has plots occupied by Regions Bank and Pollo Tropical. These parcels were not included in the sale.
Blanco, marketing coordinator Mallory Silva and financial analyst Nick Ureta formed the TSCG investment sales team that organized the sale. According to Blanco, this is the team’s eighth grocery-anchored retail in the past eight months.