Gary Broidis, Principal of Delray Beach-based Atlantic Commercial Group, Inc., recently completed the sale of The Village Mart center, an approximately 73,000-square-foot property located at 850 South Federal Highway in Deerfield Beach, at a price of $13,950,000.
Located on the east side of Federal Highway and south of Hillsboro Blvd., this property represents one of the most underutilized retail property in this corridor, according to Mr. Broidis.
The shopping center was developed in 1975, contains approximately 6 acres of land and many tenants have been in occupancy for over 15 years. Under the direction of Mr. Broidis, the property was sold to an affiliate of Janoura Realty, which has numerous retail property holdings in South Florida.
“This property provides a great opportunity for the buyers to upgrade and re-tenant this property that is located in one of the most active retail areas in Broward County,” commented Broidis.
This sale is the second retail center Broidis sold to Janoura Realty, with the last one being the Shoppes at Village Pointe in Boca Raton, which was sold in 2014.
Atlantic Commercial Group, Inc. specializes in the brokerage and development of retail and office properties in South Florida. Additional services include national tenant representation, landlord representation and development consulting.
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