Marcus & Millichap has announced the sale of University Commons, an 80,224-square-foot retail property located in Tamarac, FL. The asset sold for $14.8 million.
Kirk Olson, senior vice president at Marcus & Millichap commented on the sale: “University Commons is a highly desirable shopping center situated in Broward County with daily traffic counts exceeding 80 thousand vehicles and over seven acres of land.” He further noted that Quince Supermarket has seen impressive growth since opening in 2020 and 75% of tenants have been operating for more than five years with YOLO BBQ set to open later this year which will bring even more foot traffic to the center.
Olson and Drew A Kristol had exclusive listing rights on behalf of a Miami based private investment group while representing both seller and buyer – a private investor from New York City – throughout negotiations leading up to closing day.
