RK Centers recently acquired a 65,000-square-foot retail center located at 1520 and 1550 N. Federal Highway in Fort Lauderdale for $38.5 million. This is significantly lower than the previous purchase price of $49.2 million by PGIM Real Estate in 2017, showcasing a decrease of over $10 million.
According to reports from the S. Florida Business Journal, the shopping center was developed on a spacious 6.2-acre site between the years of 2015 and 2016 with notable tenants such as Trader Joe’s, Office Depot, Nordstrom Rack, Sports Clips and Xfinity occupying all available space.
The property boasts full occupancy and is anchored by popular retailer Trader Joe’s with an average price per square foot equating to $587.
