The developer of the Village at Atlantic Shores in Hallandale Beach has acquired the property for what could be the third phase of the project.

601 North Federal Highway LLC, managed by Maxime Remillard in Fort Lauderdale, sold the 2.5-acre site for $12 million to Atlantic Village 3 LLC, managed by Alejandro Chaberman in Hallandale Beach. The site currently has a 32,241-square-foot automotive building that was previously a Chevrolet dealership, but is now vacant.

The property last traded for $6.9 million in June 2017.

New Wave Loans Residential provided a $8.25 million mortgage for the deal, plus the recently completed first phase of the Village at Atlantic Shores.

Located at 801 N. Federal Highway – in front of Gulfstream Park –- the first phase of the project has 31,144 square feet of retail and restaurants. Chaberman’s company is seeking city approval for the second phase, which would have 27,088 square feet of retail/restaurants and 10,596 square feet of offices at 701 N. Federal Highway.

Chaberman couldn’t be reached for comment about his plans for the recently acquired property. The zoning would allow multifamily or commercial development.

Source: https://www.bizjournals.com/southflorida/news/2018/10/17/developer-buys-site-on-federal-highway-in-broward.html