Raanan Katz Of RK Centers Acquires City Furniture Showroom In Pembroke Pines For $15.2M

A 62,471-square-foot retail asset located at 11249 Pines Boulevard in Pembroke Pines has been sold for $15.2 million. The property currently serves as a City Furniture showroom and falls within a dynamic retail market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $15,200,000
• Address: 11249 Pines Boulevard
• Market: Pembroke Pines
• Square Footage: 62,471
• Price Per Square Foot: $243
• Buyer: Raanan Katz - RK Centers
• Seller: Andrew Koenig - City Furniture

Raanan Katz is a minority owner in the Miami Heat and is recognized as a prolific retail landlord in both South Florida and the Northeast. RK Centers has made this purchase as part of its expansion strategy, following a recent acquisition of the Fountains of Miramar shopping center.