Continental Realty Corporation Acquires Property In Davie For $21.3 Million With JLL Representatives

The property asset involved in the transaction is Ridge Plaza, located at 9000 W State Rd 84, Davie, FL, 33324. The shopping center, which spans 155,204 square feet, was sold for $21,300,000. The asset is situated in the Davie market and was nearly 100 percent leased to various tenants, including Paragon Theater, Off The Wall Family Entertainment Center, Dunkin’ Donuts, and Metro PCS.

Summary of transaction details:

• Property Type: Retail Center
• Transaction Amount: $21,300,000.00
• Address: 9000 W State Rd 84, Davie, FL, 33324
• Square Footage: 155,204
• Market: Davie
• Seller: Regency Centers
• Buyer: Continental Realty Corporation
• Seller's Representatives: Luis Castillo (JLL), Danny Finkle (JLL), Eric Williams (JLL)

The transaction involved the sale of Ridge Plaza by Regency Centers, an affiliate of Equity One, which was acquired by Regency Centers of Jacksonville. The buyer, Continental Realty Corporation, is based in Baltimore and operates the Continental Realty Fund IV LP, which invests in value-add retail and multifamily properties in the Mid-Atlantic and Southeastern U.S. The sale underscores the continued movement in the retail real estate market.