Home Depot bought a commercial plaza in Pembroke Park for $20 million, adding to its holdings in the Broward County town.
The Atlanta-based big box retailer purchased the property at 3101-3129 West Hallandale Beach Boulevard from an entity led by Joseph and Elena Edelman, according to records and real estate database Vizzda.
Completed from 1984 to 1990, the plaza consists of 64,800 square feet of retail and office space in six one-story buildings, Vizzda records show. The five-lot property is on a 4.7-acre site.
The Edelmans’ affiliate had paid $5.3 million for the property in 2014, according to records.
Home Depot also owns the 10,500-square-foot bank building at 3131 West Hallandale Beach Boulevard, having paid $4.9 million for it in December, records show. The 2.3-acre property is adjacent to the plaza Home Depot just purchased.
Home Depot didn’t immediately return a request for comment on whether it plans to build a new store on the sites.
Led by CEO Edward Decker, Home Depot’s nearest store to the plaza it just purchased is at
1951 South State Road 7 in West Park.
In 2021, Home Depot paid $26 million for the former Sam’s Club building at 7233 Seacrest Boulevard in Lake Worth Beach. The home improvement retailer opened a store there.
Home Depot also opened a Jupiter store at 1694 West Indiantown Road, after purchasing the former Sports Authority site in 2018 for $8.1 million.
Retailers are increasingly investing in properties.
In March, Publix paid $25 million for its store and a Starbucks outparcel at 2501-2519 East Sunrise Boulevard near the Galleria Mall in Fort Lauderdale. That came after Publix paid $40 million for a retail plaza anchored by one of its stores, as well as an office building and two outparcels at 2700, 12800, 12864 and 13000 Biscayne Boulevard in North Miami.
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