Apollo Global Management Acquires Publix-Anchored Shopping Plaza In Pembroke Pines For $56M

Terra has sold the Publix-anchored 16000 Pines Market shopping plaza located at 16000 Pines Boulevard in Pembroke Pines for $56 million. Developed in phases between 2018 and 2021, the property spans 13.2 acres and comprises a total of 135,000 square feet. The sale price equates to $415 per square foot and $4.2 million per acre.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $56,000,000
• Address: 16000 Pines Boulevard, Pembroke Pines
• Market: Pembroke Pines
• Acres: 13.2

Apollo Realty Income Solutions, represented by Marc Rowan, acquired the property from Terra. David Martin, Terra's representative, facilitated the sale. This transaction showcases the successful collaboration between Terra and Apollo Global Management, as the former developed the shopping plaza and the latter successfully acquired it.