Ptolemaios Property, a Plantation-based company managed by Steven Otto, has picked up two retail centers in Broward County for a combined $14.225 million. The first purchase, for $7.5 million, was for the 80,000 sq ft Palm Plaza in Pompano Beach on N. Powerline Road. The second transaction, the 66,103-square-foot Oakbrook Plaza in Lauderhill traded for $6.725 million. The deal was finalized with $7 million in financing. Marcus & Millichap’s Joseph P. Thomas represented the buyer in both deals while Douglas K. Mandel, also of Marcus & Millichap, represented the sellers. “These transactions are indicative of the surge in investor interest for multi-tenant properties in Broward County,” Mandel said. “The heightened competition for quality assets has pushed buyers to consider centers outside the city of Fort Lauderdale. Both of these properties are centrally located, well-maintained and stabilized.”
