October 2, 2026 – The Real Deal
Davie, Fla. — A Massachusetts-based real estate investment company bagged a Davieshopping center for $25.6 million in an off -market sale.
Perkins Realty Management LLC, led by Andrew Perkins, bought the 106,500-square-foot Davie Square at 5503-5795 South University Drive from an entity linked to North Miami-based investors Ryan Shapiro and Jonathan Wizman. The deal penciled to $240 per square foot. Drew Kristol and Kirk Olson of Marcus &Millichap represented the seller. Banesco USA provided the buyer with a $16.6million mortgage.
Davie Square was built on nearly 15 acres in 1998. It has three single-story buildings with 30 suites, which are 99 percent occupied, according to LoopNet. The tenant roster includes Memorial Healthcare System , Spice Bazar, Citrine Schools and Beyond Billiards. The sale included an outparcel occupied by Denny’s. The shopping center is near Walmart, Target and Home Depot.
Those retail anchors and the proximity to Southwest Ranches will feed the plaza’s customer base, Perkins said. Advertisement
Advertisement From 1986 to 2012, Perkins focused on housing in Massachusetts, accumulating nearly 800 apartments, converting 400 condos and flipping more than 539houses, he said. His attention shifted to strip malls after moving to Florida, where he owns roughly 387,000-square-feet of retail. Perkins, who lives in Boca Raton, said he’s now divesting his bay state holdings to buy and improve more properties in Florida.
“I’m a blue collar guy,” he said. “I look at real estate and understand it a little bit and buy it and make it better.”
Perkins said he expects to own more than 500,000 square feet of retail by the end of next year. He’s looking for additional properties in South Florida with at least 40,000 square feet and a mix of smaller tenant spaces, which can help limit the impact of any single vacancy on cash flow, he said.
Perkins said he’s using his acquisitions to reposition his equity so his two sons can eventually take over the family business.
“I’m not trying to become a billionaire,” he said. “I’m just buying real estate,enjoying life and enjoying my family.”
Shapiro and Wizman acquired Davie Square for $17.8 million last year fromDeerfi eld Beach-based SouthEast Properties, led by Ray Geiserman.
Southstate Bank provided a $13.4 million mortgage.
Kristol said like the rest of Southeast Florida, Davie’s retail market ischaracterized by low supply and high demand.
Investors are “clamoring for good multi-tenant retail,” in Davie, he said.
Kristol and Olson also represented Wizman last year when he sold the 22,520-square-foot Davie Plaza for $6.9 million. In 2024, Publix
bought a pair of Davies hopping centers for a combined $83 million. That same year, JBL AssetManagement paid $22.3 million for the town’s Ridge Plaza retail center.
Elsewhere in South Florida, the shopping center buying binge has continued.Earlier this week, Publix again shelled out $83 million for a 204,740-square-footplaza in Miami. In July, Kimco Realty dropped $109 million total on SunshinePlaza in Tamarac and Pompano Marketplace in Pompano Beach.
