UPDATED, May 12, 10:30 a.m.
The Balogh Family Partnership sold a Hallandale Beach retail property to Flanigan’s, the eponymous South Florida restaurant chain known for its barbecued ribs, seafood and libations.
Fort Lauderdale-based Flanigan’s Enterprises paid $8.5 million for a small strip center and two outparcels at 615, 701, 707 and 715 East Hallandale Beach Boulevard, according to records.
Attorneys Michael Gallinar and Jason Camps with Adams Gallinar represented the Balogh Family Partnership.
Balogh, led by Robert and Cara Balogh, acquired the nearly 0.5-acre assemblage for $355,200 in 2012, records show.
Existing tenants in the outparcels and the strip center are Firehouse Subs, Verizon and Organic Daisy Hair Salon. The property is next door to a Flanigan’s restaurant and a Big Daddy’s Wine & Liquor store, a spirits retail chain also owned by the same company.
Flanigan’s had considered expanding the restaurant and liquor store into the recently acquired strip mall, but that plan now is on hold, Flanigan’s CEO James Flanigan told The Real Deal. “The kitchen needs to be expanded, but it doesn’t lay out well in that new space,” he said. “We are leaving the current tenants in place.”
Robert and Cara Balogh are the brother and sister-in-law of the late David Balogh, founder of Balogh Jewelers, a South Florida jewelry company that closed in 1999. The couple has recently been actively wheeling and dealing in South Florida commercial properties.
Last year, the Baloghs and their partner Orli Teitelbaum bought The Crossroads, a 34,901-square foot retail building in South Miami, for $18.5 million. Also last year, the three partners sold Bayside Office Center, a 12-story loft-style office building in downtown Miami, to RFR, a New York-based real estate firm led by Aby Rosen. RFR paid $25 million.
Retail sites in Hallandale Beach are primed for redevelopment. Last year, Manuel Grosskopf’s Château Group sold a shopping plaza at 600 East Hallandale Beach Boulevard for $58 million. The Hallandale Beach-based developer had planned to tear down the retail center to make way for a mixed-use project. The buyer, Pacific Star Capital, has not revealed what it intends to do with the property.
In 2021, Miami-based 13th Floor Investments paid nearly $18.5 million for a bowling alley on 15.5 acres in Hallandale Beach. The firm intends to redevelop the site, but has not announced a specific plan.