RK Centers Acquires Riverbend Marketplace In Fort Lauderdale For $36M From Northbridge Investment Management

The retail asset, Riverbend Marketplace, is situated at 2510-2670 West Broward Boulevard in the Fort Lauderdale market. The property spans 10.2 acres and encompasses a total square footage of 92,007. It was sold for a price of $36,000,000, translating to a price per square foot of $391.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $36,000,000
• Square Footage: 92,007
• Address: 2510-2670 West Broward Boulevard
• Market: Fort Lauderdale
• Acres: 10.2
• Buyer: Raanan Katz & Andrew Zidar - RK Centers
• Seller: Northbridge Investment Management
• Notable Tenants: Marshalls, Planet Fitness, Five Below, Wells Fargo, Chipotle

Raanan Katz and Andrew Zidar, representing RK Centers as buyers, acquired the property from Northbridge Investment Management. The deal was influenced by the site's dense population and high entry barriers, which were identified as key drivers for the purchase.