Marcus & Millichap Brokers Broward County Retail Center Sale

PEMBROKE PINES, Fla., Sept. 30, 2025 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Palm Square, a 77,621-square-foot retail center in Pembroke Pines, Florida. The asset traded for $25 million.

"The sales price represents a 22% appreciation from the previous closing price in 2019 of $20,475,000," said Kirk D. Olson, senior managing director investments in Marcus & Millichap's Miami office. "The property is a 94%-occupied retail center that gives the buyer an opportunity to significantly increase net-operating income through lease-up of vacant spaces, and mark-to-market opportunities." Olson and Drew A. Kristol, Marcus & Millichap senior managing director investments, represented the seller, Galium Capital, and procured the buyer, an affiliate of JBL Asset Management.

"Palm Square has strong in-place cash flow and an ideal mix of tenants that includes food establishments, schools, medical and beauty services, a fitness center, and after-school programs," said Kristol.

Built in 1987 on eight acres, the center has 600 linear square feet of frontage along Pines Boulevard, which sees 52,000 vehicles per day. Pembroke Pines City Center, an 80-acre master-planned village with 1,400 multifamily units and 300,000 square feet of retail anchored by Publix is two blocks away. Within a five-mile radius, the population is nearly 400,000.

Prominent tenants at Palm Square include Dunkin' Donuts, which has been on an outparcel at the center since 1998, Sherwin-Williams, a tenant since 1985, and KFC, located on an outparcel since 1986. The tenant roster includes Atlantic Montessori School, Goldfish Swim School, Smile Experts Dentistry, Florida Health Care, and Fordham Fitness.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit https://www.MarcusMillichap.com.