Gazit Horizons, a subsidiary of G City Ltd. that is expanding its holdings in the US, has snapped-up a high-traffic centre on stretch of posh waterfront in Fort Lauderdale.
The 105,589sq ft Galt Ocean Marketplace, located on Route A1A in a prime barrier island location in the Galt Ocean Mile neighbourhood, sold for $35.4M.
“Galt Ocean Marketplace is a strategic addition to our Florida portfolio,” said Zvi Gordon, CEO of Gazit Horizons. “This incredibly well-located neighbourhood centre with a strong necessity-focused retail tenant mix and affluent neighbourhood demographic is an exciting investment which will benefit from our extensive retail experience and proactive management.”
Anchored by a Winn Dixie supermarket, Galt Ocean Marketplace also hosts a drive-through CVS, Holy Cross Hospital, McDonald’s, Flagstar Bank and Sherwin Williams along with casual dining, fitness and beauty. It is 96 per cent leased.
Gazit’s other Florida holdings include the luxury rental towers Maizon Brickell in Miami and AER Tampa.
