Marcus & Millichap Arranges $6.85 Million Sale Of Retail Strip In Broward County

Marcus & Millichap successfully closed the sale of Davie Plaza, a 22,517-square-foot retail strip in Davie, for $6,850,000.

“Davie Plaza sits on a high-traffic hard corner in a dense and growing Davie commercial corridor,” said Drew A. Kristol, senior managing director investments in Marcus & Millichap’s Miami office. “The property has multiple short-term, below-market leases within the center and benefits from the additional traffic generated by the McDonald’s outparcel on the corner in front of the property.”

Kristol, along with Kirk D. Olson, senior managing director investments, represented the seller Davie Plaza Group LLC, a local South Florida investor.

Davie Plaza is located at 7110–7162 Stirling Road, at the signalized intersection of Stirling Road and Davie Road Extension, which sees more than 71,000 vehicles per day. Built in 1969, the center sits on 2.04 acres and comprises local tenants including Davie Supermarket, Cloud 9 Bar & Grille and Davie Dry Clean. Recent renovations include exterior repainting, new awnings and a partial roof replacement. While McDonald’s was not included in the sale, the adjacent location contributes additional foot traffic to the center.