701 NW 99th Ave
Pembroke Pines, FL 33024
Palm Johnson Plaza · Retail Property For Sale

Institutional Property Advisors is pleased to exclusively market Palm Johnson Plaza, a grocery anchored retail shopping center located in the densely populated city of Pembroke Pines. The property is located on Palm Avenue, just north of the Intersection of Palm Avenue and Pines Boulevard. The 90,226 square-foot multi- tenant shopping center is anchored by Food Fair, a New Jersey-based supermarket operator that has opened several locations in former Winn-Dixie spaces throughout Broward county. Palm Johnson is comprised of 23 tenants including Planet Fitness Gym, Cora Health along with several other well-established service-related businesses. The property went through an extensive renovation over the past four years including a brand- new roof with a 10- year warranty, newly painted façade, new monument signs and improvement of landscaping, lighting and visibility from Palm Avenue. Palm Johnson is less than one-half mile north the Pembroke Pines City Center, a mixed-use development with plans for 445,000 square feet of retail and office space, along with a 350-unit hotel and more than 1,400 residential units. This infill Broward County location is home to a population of more than 160,000 people within a three-mile radius with an average household income of close to $70,000. Palm Johnson features below market rents on the anchor space, offering the possibility for an investor to add value over the long term. Virtually all of the non-anchor leases boast 3 percent annual base rental increases which will pride steady annual NOI growth. This is a rare opportunity to acquire a grocery anchored shopping center in the heart of Broward County.