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Continental Realty Corp. acquires South Florida shopping center for $21.3 million

Ridge Plaza in Davie, Fla.
Ridge Plaza in Davie, Fla. (Handout)

Continental Realty Corp., a Baltimore-based real estate investment firm, has acquired a South Florida shopping center for $21.3 million.

The Ridge Plaza is a 155,204-square-foot center on State Road 84 in Davie, Fla., and was fully leased at the time of sale Monday. The seller was Regency Centers, a national shopping center owner and operator.

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“When considering potential retail shopping centers for purchase, our due diligence process involves a careful evaluation of the fundamentals of the marketplace and the project,” said David Donato, senior vice president at Continental Realty Corp., in a statement, “including projected job and population growth, parking and visibility factors and the tenant mix as compared with nearby competition.”

Ridge Plaza met all those requirements, he said.

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Built in 1985, Ridge Plaza is anchored by Paragon Theaters and Off the Wall Family Entertainment Center. Other tenants include Dunkin’ Donuts and Metro PCS.

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