ShopOne Buys Publix-Anchored Retail Mall for $36M in Tamarac, Fla.
By Julia Echikson August 2, 2024 1:36 pm
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ShopOne Centers and Pantheon paid $36.4 million for a Publix-anchored retail center in Tamarac, Fla., property records show.
Called Midway Plaza, the 229,695-square-foot property sits at the intersection of North University Drive and Northwest 57th Street. The shopping center, which was completed in 1987, is 84 percent occupied, with supermarket chain Publix and discount retailer Ross Dress for Less having operated there for over 35 years, according to the buyers.
“Florida has been and will continue to be among the country’s most popular states for families and transplants alike given its robust job growth, moderate climate and tax-friendly environment,” Chris Reed, CEO of ShopOne, said in a statement.
The seller, Site Centers, purchased the complex for $28.4 million in 2003, according to property records. A representative for the Ohio-based investor did not immediately respond to a request for comment.
Midway Plaza is the only South Florida shopping center owned by ShopOne Centers, a New York-based REIT specialized in retail. Alongside Pantheon, a London-based private equity firm, ShopOne Centers owns 17 retail centers nationwide, totaling more than 1.8 million square feet.
Julia Echikson can be reached at jechikson@commercialobserver.com.
