Marcus & Millichap Negotiates Sale Of Pembroke Pines Shopping Center

Marcus & Millichap Real Estate Investment Services negotiated the sale of Pembroke Corners, a 30,007-square foot shopping center located in Pembroke Pines, at 17201 Pines Boulevard.
The asset sold for $6,400,000.
Lori Schneider, a Senior Vice President Investments in Marcus & Millichap’s Ft. Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a developer from Tampa, FL.  The buyer was secured and represented by Kirk D. Olson and Drew A. Kristol, Vice President Investments in Marcus & Millichap’s Miami office.
“The property has an interesting blend of three national credit tenants.  Buyer interest for this property came predominantly from a pool of small private investors from across the country.  Ultimately, the buyer was a partnership between a local investor and his South American co-investors,” says Schneider. The historically stable property is 100 percent occupied with tenants that include CVS, Tire Kingdom and Goodyear, among others.