Ross Matz Sells Hollywood Hills Plaza for $40M

HOLLYWOOD, FL-In one of southern Florida’s largest retail deals so far this year, Weingarten Realty Investors, a Houston-based REIT, has purchased the 372,000-sf Hollywood Hills Plaza here from Ross Matz Investments Inc. of Davie, FL for $39.5 million. The price equates to approximately $106.11 per sf for the 372,000-sf shopping center. The sale closed April 29.

The center, located at Hollywood Boulevard and Park Road, is anchored by Publix Supermarket and Target. Target is the center’s biggest tenant, occupying well over 100,000 sf.

Ross Matz Investments bought the center Dec. 21, 2001, from Swerdlow Real Estate Group, a real estate investment trust, for $33 million. “So it’s a nice profit,” Barry Ross, a principal along with Bill Matz in Ross Matz Investments, tells GlobeSt.com.