Marcus & Millichap Brokers $8.3M Sale Of Broward County Retail Property

Marcus & Millichap announced the sale of West Pembroke Square, a retail center in Pembroke Pines for $8.3 million.

“This transaction underscores the continued investor demand for well-located neighborhood retail assets throughout South Florida,” said Matt Albregts, director investments in Marcus & Millichap’s Miami office. “Leveraging our team’s local market expertise and longstanding industry relationships, we successfully connected the seller with a qualified buyer while identifying and securing a replacement property to satisfy the buyer’s 1031 exchange requirements, allowing for a seamless closing.”

Albregts represented the seller, West Pembroke Square LLC. Jonathan De La Rosa and Eddie Toledo of Marcus & Millichap procured the buyer, Jorge Gonzalez.

Located at 8901 Pembroke Road, the retail strip totals 30,250 square feet on a 3.74-acre lot. Built in 1987, West Pembroke Square features 19 suites and 180 parking spaces. The property was occupied by a variety of service tenants including, a Dunkin’, church, dentist’s office, convenience store and dance studio.

West Pembroke Square is close to retailers and restaurants and near Hollybrook Golf and Tennis Club, Hard Rock Stadium, North Perry Airport and Florida’s Turnpike.