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Firm Picks Up First Florida Acquisition for $2M

WEST PALM BEACH, FL-In its first Florida real estate acquisition, Suresh Sawlani, Roshi LLC paid about $95.12 per sf for the 20,500-sf Dixie Plaza, which was 100% occupied at the time of the sale.

By Melissa Bogdany | Updated on March 11, 2004

WEST PALM BEACH, FL-Suresh Sawlani, Roshi LLC has purchased Dixie Plaza, a 20,500-sf retail center in the city, for nearly $2 million. The price equals approximately $95.12 per sf for center located at 1401 S. Military Trail. Dixie Plaza is Suresh Sawlani, Roshi’s first real estate acquisition in Florida.

The seller was Dixie Plaza LLC of Boca Raton, FL, which sold the property for almost double what it paid. Dixie Plaza LLC paid $985,000 for the center in April 1999, according to the Palm Beach County property appraiser’s office. The center was built in 1985 and is 100% occupied. Long-term tenants there include Scuba Quest, Value Pawn and Pro Karate Supply.

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