Oakwood Plaza North and South
Hollywood, Florida
Oakwood Plaza is the largest, most well-trafficked shopping center in Hollywood, Fla. With a mile of frontage along the busy I-95 corridor, the center is the retail focal point of the community, drawing shoppers not only from Hollywood, but from around the densely populated and highly affluent greater Fort Lauderdale market.
With high visibility and tremendous variety, it’s no wonder that Oakwood Plaza enjoys a 99 percent occupancy rate. A true one-stop shopping destination, the 900,000-square-foot center boasts a wide range of national retailers, such as BJ’s Wholesale Club, Home Depot, Marshalls, Home Goods, Michael’s, Big Lots, PetSmart and Ross Dress for Less. Entertainment amenities, such as an 18-screen Regal Cinemas theater, dining options like T.G.I. Friday’s, Red Lobster and Sweet Tomatoes, and a variety of convenience and personal-service shops combine to enhance the shopping experience. In all, there are 49 stores over 99 acres.
As if that were not enough, Oakwood Plaza is getting bigger and better. A redevelopment project currently underway will expand BJ’s by 10,000 square feet, and add a new 35,000-square-foot Sports Authority. The project should be completed by the end of the year, and provide an 11 percent return on investment. In addition, a new health club, You-Fit, will soon occupy more than 13,000 square feet of space.
Originally purchased in 2004 and currently owned with Canada Pension Plan, Oakwood Plaza has proven to be a valuable, long-term investment for Kimco. The center continues to produce strong results, with net operating income expected to increase by 8 percent over the next year.