CBRE Announces $5.35 Million Sale of Pine Oak Plaza in Sunrise, Florida

CBRE facilitated the $5.35 million sale of Pine Oak Plaza, a multi-tenant retail shopping center in Sunrise, Fla., to Genet Property Group, a Florida-based entity managed by Benjamin Genet.

David Donnellan and Patricia Friend with CBRE represented the seller, Ragnar Investments, LLC, a Florida-based entity managed by Johnny Wizman, in the transaction.

The 16,994-square-foot property is located at 8901-8933 West Oakland Park Boulevard, just west of Pine Island Road. At the time of sale, Pine Oak Plaza was fully occupied by 13 retail tenants, including Cheers Restaurant & Bar, A Dental Art, and Nirala's Sweets, among others.

“This was a strategic acquisition by Genet Property Group as they also own the adjacent Pine Island Shoppes,” said Mr. Donnellan, a Senior Vice President at CBRE. “The purchase of Pine Oak Plaza now allows Genet to control most of the northwest corner of the intersection of Oakland Park Boulevard and Pine Island Road.”