Kimco Realty has acquired two established, grocery-anchored shopping centers in Broward County from KPR Centers for approximately $109 million. The purchases add nearly 498,000 square feet of retail space in Tamarac and Pompano Beach, strengthening Kimco’s presence in a South Florida market where vacancies remain relatively low and consumer-oriented properties continue to attract investors.
Key takeaways
- Kimco paid approximately $56 million for Sunshine Plaza in Tamarac.
- Pompano Marketplace sold for approximately $53 million.
- The two centers total nearly 498,000 square feet.
- Publix and Walmart Neighborhood Market serve as the primary grocery anchors.
- The acquisitions expand Kimco’s existing South Florida retail platform.
The transaction gives Kimco immediate ownership of two well-established shopping destinations with a mix of grocery, discount, fitness, restaurant and financial-service tenants.
Sunshine Plaza changes hands
Kimco acquired Sunshine Plaza, a 245,700-square-foot shopping center at 4017-4299 West Commercial Boulevard in Tamarac, for approximately $56 million. Built in 1972, the property is anchored by Publix and Marshalls and also includes tenants such as 24 Hour Fitness, Krispy Kreme and Subway.
KPR purchased Sunshine Plaza for about $28.5 million in 2014. The latest sale nearly doubles that investment, reflecting the appeal of grocery-anchored retail and the center’s location within the Northwest Broward and Coral Springs submarket.
Pompano Marketplace adds scale
The second acquisition, Pompano Marketplace, traded for approximately $53 million. The 252,300-square-foot plaza at 1115-1299 South Federal Highway was built in 1991 and is anchored by Walmart Neighborhood Market.
Its tenant roster includes Ross Dress for Less, Marshalls, Five Below, Dollar Tree, Carrabba’s Italian Grill and TD Bank. KPR acquired the center for approximately $46.8 million in 2015, meaning the latest transaction represents a gain of roughly 13% before transaction costs and other considerations.
Kimco deepens South Florida presence
The purchases complement Kimco’s existing South Florida holdings, which include Mary Brickell Village in Miami, the Palms at Town & Country in Kendall, Dania Pointe, Oakwood Plaza North in Hollywood and Broward Plaza in Davie. The company also owns several retail properties in Palm Beach County.
Kimco is among the largest U.S. owners of open-air, grocery-anchored shopping centers. Its portfolio spans approximately 100 million square feet across hundreds of properties in nearly 30 states, giving the company significant operating scale in leasing, property management and redevelopment.
Broward retail remains competitive
The acquisitions come as Broward County’s retail market shows modest signs of easing but remains comparatively tight. Countywide vacancy reached 4.3% in the second quarter, while average asking rents were about $27.70 per square foot.
The Pompano Beach submarket recorded a 4.7% vacancy rate and average asking rents of approximately $28 per square foot. The Northwest Broward and Coral Springs area, which includes Tamarac, posted a 5.3% vacancy rate and average asking rents near $24 per square foot.
Those conditions support the value of properties with established anchors and diversified tenant bases. For Kimco, the deal also creates potential opportunities to improve leasing, refresh the centers or pursue future redevelopment while maintaining their daily-needs retail focus.
Sources
- South Florida Top Real Estate Deals: July 30, 2026, The Real Deal.
- Kimco Realty Buys Broward Retail Centers From KPR Centers, The Real Deal.
- Kimco Realty buys Sunshine Plaza in Tamarac and Pompano Marketplace from KPR Centers, The Business Journals.