Landmark property sold
Seagrape Commons, an icon in Lauderdale-by-the-Sea for 50 years, sold for $6.75 million.
LAUDERDALE-BY-THE-SEA — In the wake of a major makeover of the East Commercial Boulevard retail district in Lauderdale-by-the-Sea, the owner of Seagrape Commons, a mixed-use fixture in the town for more than 50 years, has cashed in by selling his building for $6.75 million.
Located at 218 and 222 E. Commercial Blvd., Seagrape Commons is home to several restaurants, including the recently opened Billy Jack’s Shack, the first location in Florida for the franchise. Others include Basilic Vietnamese Grill, Dr. Juice and Pump Sushi. The 37,027-square-foot plaza also includes ground-floor retail, office space on the second floor and two residential units. The building is on the southern side of East Commercial Boulevard, across the street from a Sun-Trust bank branch.
The seller is Anthony Lomascolo, whose Seagrape Commons LLC, completed substantial upgrades in 2015. It maintained the plaza’s midcentury modern style that is prevalent around town. The purchaser is ACS218 LLC, operated by Andrew and Corey Shader of Fort Lauderdale, according to state corporate records.
Jaime Sturgis, whose Native Realty of Fort Lauderdale brokered the off-market deal, said the property maintains a “24/7 environment … which is why the retailers and restaurants have done so well.”
“Lauderdale-by-the-Sea is popular year-round, between locals and tourists, so the town is coveted by commercial real estate investors, as it is less affected by seasons,” Sturgis said.
“Lauderdale-by-the-Sea is popular year-round, between locals and tourists, so the town is coveted by commercial real estate investors, as it is less affected by seasons.” Jaime Sturgis, Native Realty of Fort Lauderdale