A partnership between Ross Realty Investments and Fort Lauderdale-based SunCap Real Estate Investments has purchased the Penn Dutch Plaza shopping center in Margate for $18.5 million. Built in 1998 on a 19.1 acre site, the 171,776 square-foot retail center at 3105 N. State Road 7 traded for $108 per square foot. The retail center is anchored by a 70,000 square foot Penn Dutch Food Center along with tenants YouFit and Florida Career College. The seller, New York based DRA Advisors, bought the property in 2008 for $12 million. The purchase was completed with a $13.06 million mortgage from National Cooperative Bank.
