Flagler Park Plaza mall is sold for $54.3 million, or $155 per square foot
By Paula Distefano
Flagler Park Plaza mall has been purchased by Principal Global Investors for $54.3 million, or $155 per square foot.
The 350,000-square-foot-mall, at West Flagler Street and NW 82nd Avenue, had been under private ownership. It is about 96.5% occupied, said Beth Azor, president of Terranova Corp., which brokered the deal. Anchor tenants include Publix, Office Depot, Linens 'n Things, PetSmart and Outback Steakhouse.
Ms. Azor said her company closed the deal in less than 90 days.
Nationwide, the average sale price for shopping malls last year was $330 per square foot, said Patrice Duker of the International Council of Shopping Centers, a trade association in New York.