This Pembroke Pines shopping center sold for $25 million. Here’s what to know
.png "Palm Square, located at 9941 Pines Blvd., is under new ownership after a $25 million sale to JBL Asset Management.")
Palm Square, a 77,621-square-foot shopping center in eastern Pembroke Pines, is under new ownership following a $25 million sale to Hollywood-based developers.
The sale was made official Sept. 30 by Marcus & Millichap, the brokerage firm that facilitated the deal between the plaza’s former owners, North Miami’s Galium Capital, and JBL Asset Management.
Located at 9941 Pines Blvd., Palm Square was built in 1987 and was last sold in 2019 for roughly $20.5 million, according to the brokerage firm.
Its spot along Pines Boulevard places its tenants — including Atlantic Montessori School, Fordham Fitness, Smile Experts Dentistry and several fast-food franchises — in a popular location that the Florida Department of Transportation says averages over 52,000 vehicles per day.
Kirk D. Olson, a Marcus & Millichap managing director who oversaw the sale, shared that the property saw a 22% appreciation in value since it was last on the market and that JBL Asset Management could see higher profits from the plaza for several reasons.
“The property is a 94%-occupied retail center that gives the buyer an opportunity to significantly increase net-operating income through lease-up of vacant spaces, and mark-to-market opportunities,” Olson said in a statement announcing the sale .
Palm Square has three vacant spaces up for lease ranging from 1,200 square feet to 2,000 as of Oct. 1, according to JBL Asset Management’s website. Kfier Cohen, who runs the company’s acquisitions team, says no structural updates or changes in tenants’ rent are expected following the sale.
This story was originally published October 1, 2025 at 3:58 PM.
