"The Sunrise Town Center offering received significant interest from investors due to its location in a growing submarket, its configuration and its solid tenant base," Adam Feinstein, a broker involved in the transaction, says in a statement.

The center is located at the northeast corner of University Drive and Oakland Park Boulevard. Anchor tenants at the property include L.A. Fitness and Office Depot. In addition, a Wal-Mart, which was not part of the sale, is located at the property.

"The combination of Wal-Mart, Office Depot and L.A. Fitness creates a strong customer draw to the center which benefits all the tenants of this property," according to Mark Gilbert, another broker involved in the transaction. "Due to these three anchors, this property has as much customer traffic as a grocery-anchored center."