The seller was a joint venture of Davie-based Ross Matz Investments Inc. and Parkland-based Newman Realty Group. CB Richard Ellis senior vice presidents Dennis Carson and Casey Rosen represented the seller.

Built in 2005, the shopping center, located at the northwest quadrant of the Interstate 75 and Miramar Parkway interchange, is anchored by Marshall's, Ross Dress for Less, Office Depot and Pet Supermarket. Other tenants include Starbuck's, Panera Bread, Pearle Vision and Payless Shoesource. The property is also anchored by Home Depot, which was not included in the sale.

According to a CB Richard Ellis Q3 retail market report for Broward County--the latest report available--the vacancy rate for retail space in Broward County was 4.4% at the end of the quarter with average asking rental rates of $22.84 per sf. The report predicted strong growth in the county for retail. "Broward County is projected to grow by 30,000 new residents annually during the next five years," the report states. "Demand will remain strong in areas west of the Florida Turnpike, such as Weston, Parkland, Coral Springs, Pembroke Pines, Miramar and Sunrise."