Raanan Katz is making another play in Broward’s retail arena. An affiliate of his Sunny Isles Beach–based firm, RK Centers, acquired Riverbend Marketplace at 2510 to 2670 West Broward Boulevard in Fort Lauderdale for $36 million. The 92,007-square-foot shopping center traded at roughly $391 per square foot—about $8.6 million more than its 2019 sale price—reflecting the continued premium investors are willing to pay for stabilized retail in South Florida.
The seller, an affiliate of Toronto-based Northbridge Capital led by Stuart, Michael, and Adam Lazier, purchased the 10.2-acre site for $27.4 million six years ago. Completed between 2017 and 2019 and adjacent to a Walmart Supercenter developed by Gatlin Development Co., Riverbend Marketplace is anchored by tenants including Marshalls, Planet Fitness, Five Below, Wells Fargo, and Chipotle.
For Katz, a former professional basketball player and minority owner of the Miami Heat, the deal adds to an already active year. In April, an RK affiliate paid $16.4 million for Shoppes at Monarch Lakes in Miramar, anchored by Publix. Earlier this year, the firm also purchased a Pembroke Pines furniture showroom for $15.2 million.
The acquisition arrives amid a broader wave of shopping center trades across Broward. Recent transactions in Coral Springs and Hollywood have pushed deal volume higher, even as fundamentals remain steady. According to Colliers, the county’s retail vacancy rate stood at 3.9 percent in the third quarter, nearly unchanged from a year ago, while average asking rents climbed to $28.76 per square foot.
In other words, Broward’s retail market isn’t just holding the line. It’s still attracting confident capital.
