Jonathan De LaRosa Of Marcus & Millichap Acquires Retail Plaza For $5M

The property involved in the sale transaction is a retail plaza located at 1504-1538 E Commercial Blvd in Oakland Park. Boulevard Center consists of 5 buildings developed in the 1960s and early 1970s, totaling 21,510 square feet on an 80,111-square-foot lot. The property boasts 435 feet of frontage on East Commercial Blvd and was sold for $5,000,000. The sale closed on March 14, with Bahr Investments acquiring the asset.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,000,000.00
• Seller's Representative: Ron Osborne (Sperry Commercial Global Affiliates | RJ Realty)
• Buyer: Bahr Investments

Ron Osborne, the Managing Director/Broker of Sperry CGA | RJ Realty, negotiated the transaction and highlighted the intense demand for small retail properties in Broward County, Florida. Jonathan De LaRosa from Marcus and Millichap represented Bahr Investments during the acquisition. Osborne emphasized the scarcity of well-located retail properties in South Florida, resulting in heightened price points and lower returns for investors.