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Grouper Financial Turning Capriccio Plaza Into Condos

PEMBROKE PINES, FL-Currently, the principals are offering the space to existing tenants, three of which have committed and a fourth that is near committing. In about two months, unsold space will be offered to the public. The project retail strip condo concept is unique to the area.

By Melissa Bogdany | Updated on March 26, 2004

PEMBROKE PINES, FL-The principals of Grouper Financial Inc. are turning a retail and office center they own here into condominiums. The units are being offered for sale at between $190 and $220 per sf. The property, with 28,000 sf on the ground floor and 9,000 sf on the second floor, is fairly unique in that not a lot of retail strip condos exist.

Capriccio Plaza, which totals 37,000 sf, is home to and named after the original location of Capriccio, a well-known Italian cuisine restaurant. The ownership entity is Capriccio Plaza LLC, whose principals are Scott Silver and Fredric Garvett, with real estate investment company Grouper Financial. They purchased the property, built in 1987, last May for nearly $4.7 million.

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