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28-Year-Old Mini Retail Asset Commands $56.72 Per-SF Tag

MARGATE, FL-The 21,145-sf asset at 9705 S. State Road 7 sold for $1.2 million or almost three times its 1981 price of $499,000 ($23.60 per sf). The Broward County property is 35 miles north of Downtown Orlando.

By Alex Finkelstein | Updated on November 28, 2000

MARGATE, FL-A strategically-located, 28-year-old mini retail asset at 9705 S. State Road 7 here has changed hands at a price almost three times higher than its 1981 tag.

Kineret, a private investment group headed by Michael Sasoni and Abe Weinstein paid Sun Plaza of Margate Ltd. $1.2 million or $56.72 per sf. The property sold for $499,000 or $23.60 per sf in 1981, according to Miami-based Integra Appraisal and Real Estate Economics Associates.

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