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RK Picks Up Miramar Retail Center
Stockbridge Capital Group sold a 147,281-square-foot Miramar shopping center retail plaza at 3001 to 3161 S.W. 160th Ave. to RK Centers. RK paid $42.3 million for the center, or about $287 per square foot.
Tenants in Fountains of Miramar include Marshalls, Home Goods, Ross, and Pet Supermarket. It’s located next to a Home Depot and just west of Interstate 75.
The S. Florida Business Journal reports the property last traded for $40 million in 2018. The Fountains of Miramar were built on the 15.3-acre site in 2005.
A Colliers report indicated the retail vacancy rate in Broward County was 3.9%, up from 3.5.% in the same quarter a year ago. The average asking rent increased to $28.05 per square foot, from $27.03 per square foot.
RK Centers is one of the largest owners of retail properties in Miami-Dade and Broward counties.
- ◦Sale/Acquisition
