Tricera Capital, Merrimac Ventures Close $17 Million Sale Of Society Las Olas Retail
Tricera and Merrimac closed the acquisition of the ±16,500 square feet of retail and restaurant space in August 2020
Tricera and Merrimac closed the acquisition of the ±16,500 square feet of retail and restaurant space in August 2020
Senior Vice President Kimberly Barbar is handling the leasing.
The 80,361-square-foot property includes two freestanding outparcel buildings.
Tricera acquired the buildings for $13.25 million in January 2019.
The company is aggressively seeking prospective Pink Bird sites on Florida’s east coast, from Broward to Brevard counties, with minimum dimensions of 150 x 200 feet, in high traffic locations with left-in access and strong retail co-tenancy.
Dennis Carson with CBRE represented both the buyer and seller in the transaction.
His media company relocated to South Florida in early 2021 and the company is expected to base its new headquarters in one of the buildings.
The high-end residential construction company plans to convert the former vegan restaurant and dance studio to its corporate offices.
The property consists of 35,850 square feet of retail space along University Drive, plus 19,680 square feet of office suites tucked behind the shopping center.
Stiles Vice President Bill Pace negotiated the transactions.
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