SouthEast Properties sold a 113,887 square foot shopping center at 5503 and 5645 S. University Drive to a joint venture managed by Ryan Shapiro and Jonathan Wizman in North Miami for $17.8 million. The South Florida Business Journal reports the deal included the Davie Square shopping center and an outparcel building. Southstate Bank provided a $13.35 million mortgage to the buyer.
The deal covers a 12.3-acre site across the street from Target and just north of Home Depot. The 108,227-square-foot multi-tenant shopping center was built in 2000. The 5,660-square-foot out-parcel building, which is occupied by Denny’s, was built in 1988 and last traded for $1.48 million in 2007.
Tenants in the shopping center include axe throwing and rage room Smash!t House Davie, Beyond Billiards, Spice Bazar, the Door Christian Church, Lakeshore Learning Store, JW Pastry, and My First Years Preschool.
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