A 99-percent-occupied shopping center on South University Drive in Davie has changed hands for $25.6 million, with Massachusetts transplant Andrew Perkins adding the 30-suite property to a retail portfolio he’s racing to expand across South Florida. The deal closed off-market, meaning the property never hit the open listing circuit before Perkins’ firm scooped it up.
Perkins Realty Management LLC bought Davie Square at 5503-5795 South University Drive for $25.6 million in the off-market sale, according to The Real Deal. The outlet reports the center spans 106,500 square feet and that the deal penciled to $240 per square foot. The deal was priced at $25.6 million, or roughly $240 per square foot. Banesco USA provided the buyer with a $16.6 million mortgage to help finance the purchase, per the same reporting.
Built in 1998, Davie Square sits on nearly 15 acres and is made up of three single-story buildings with 30 suites, according to the report. The property is 99 percent occupied, according to LoopNet, with tenants including Memorial Healthcare System, Spice Bazar, Citrine Schools and Beyond Billiards, plus an outparcel occupied by a Denny’s. The center sits near a Walmart, Target and Home Depot, and Perkins said those retail anchors, along with the property’s proximity to Southwest Ranches, will help feed Davie Square’s customer base.
Seller Cashed Out After Buying in 2025
The sale marks a change in ownership for the previous owner. An entity linked to Ryan Shapiro and Jonathan Wizman, both based in North Miami, had acquired Davie Square for $17.8 million in 2025 from Deerfield Beach-based SouthEast Properties — with the firm’s leadership named as Ray Geiserman in one The Real Deal account and as Jay Geiserman in an earlier one from the same outlet. SouthState Bank provided a $13.4 million mortgage for that 2025 acquisition, the report notes. Drew Kristol and Kirk Olson of Marcus & Millichap represented the seller in the latest transaction…