FORT LAUDERDALE, FL—A multi-tenant retail center in Fort Lauderdale has fetched $5.6 million. S17TPA Corp. and ABC Development purchased the 46,058-square-foot retail property for $5.6 million from MCCS-1, LLC, a Florida-based private investor.

CBRE market the asset for sale and negotiate the transaction on behalf of the buyer. David J. Donnellan, first vice president with CBRE, says, “The market for B and C quality retail centers has heated up dramatically over the past nine months. Demand is very strong from private capital for these opportunities as investors are seeking yield and are comfortable that leasing fundamentals are improving.”

Located at 5426 N. University Drive in Lauderhill, the retail property is just south of the intersection of Commercial Boulevard and University Drive in northwestern Broward County. The strip center is next to the Babies R Us Plaza and across the street from Super Target. It has been operating since 1985 with a mix of local and national retail tenants, including Rent-A-Center, Mike's Big & Tall, and Domino's Pizza among others.