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Miami Gardens, FL Roger Delisle of Island Associates Real Estate Inc. negotiated and closed the purchase and sale of the shopping center located at 17201 NW 27th Ave. for a purchase price of $14.45 million.
The 10.19 acre site is a grocery anchored shopping center improved with a 94,000 s/f building which is 98% occupied. The shopping center is anchored by Winn Dixie Supermarket, and its tenancies include Foot Locker, Planet Fitness, Rainbow Shops, Ashley Stewart Clothing, Little Caesar’s Pizza and Marathon Gas, as well as various other local businesses.
Dolphin Plaza was constructed in the early 1990s and renovated in 2015, and it is located in a densely populated area with a population of over 542,000 within a five-mile radius, and a traffic count of over 50,000 vehicles per day on NW 27th Ave. The shopping center is adjacent to the Palmetto Expressway and under two miles from Hard Rock Stadium (Home to the Miami Dolphins and University of Miami Hurricanes).
The purchaser is a group of investors that own shopping centers, single tenant properties, industrial buildings, and apartment complexes up and down the East Coast. The purchaser was represented by Roger Delisle of Island Associates, and the seller was represented by Jason Yukins of Marcus & Millichap.