Margate, Florida – Avison Young’s Florida Capital Markets Group closed the $6.28 million sale of Florida Career College (FCC) Plaza, which totals 34,904 square feet and spans 5.94 acres at 3271-3285 N. State Road 7 in Margate, Florida. The plaza is fully occupied by Florida Career College and a children’s daycare provider called The Toddler Club. The sale provides the buyer with strong in-place cash flow from long-term tenants with the additional benefit of future redevelopment potential.

Avison Young Principals David Duckworth; John K. Crotty, CCIM; Michael T. Fay, who is also Managing Director of the firm’s Miami operations; and Vice President Brian C. de la Fé represented the seller, Penn Dutch Plaza, LLC. The buyer was Barron Real Estate, Inc.

“Developers are taking a strategic approach to their land investments due to a lack of vacant land in Broward County,” said Duckworth. “Purchasing cash flow assets like FCC Plaza allows the buyer to control a larger inventory of land for future development.”

Adjacent to FCC Plaza sits a 124,000-square-foot retail center anchored and owned by Broward Meats, a well-established local grocer, with YouFit as the second occupant. Fully-leased outparcels include two medical buildings, a retail building, and a bank.