RK Centers Buys Fort Lauderdale Walmart-Anchored Center

The Sunny Isles Beach firm paid $28.6 million for the 186,000-square-foot property at 2500 West Broward Boulevard.

Updated on Nov. 3, 2026 in Retail

Isometric editorial illustration of a single flat-roofed big-box retail building set in a pale parking lot with palm trees, in muted cream, teal, and mustard. — RK Centers bought the Walmart-anchored Riverbend Marketplace in Fort Lauderdale for $28.6 million, paying no debt, as part of a $61.1 million deal package. AI Illustration. Upload story photo >

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RK Centers acquired the Riverbend Marketplace Walmart Supercenter in Fort Lauderdale for $28.6 million, a purchase priced at $154 per square foot. The deal was made as part of a combined $61.1 million in acquisitions that included the Arena Shops in North Miami, and was made without debt.

Why it matters

The purchase adds a Walmart-anchored retail property to RK Centers' South Florida portfolio, with Walmart holding a long-term lease on the site. For Fort Lauderdale shoppers and the local retail market, the transaction reflects continued investor interest in grocery and big-box anchored centers in Broward County.

The $28.6 million price works out to $154 per square foot for the 186,000-square-foot Walmart Supercenter on a 15.6-acre site. Walmart's 20-year lease, signed in November 2015, carries annual rent of $1.3 million with a 5 percent increase at each renewal.

The players

RK Centers

A Sunny Isles Beach real estate firm that owns and manages retail properties across South Florida.

Raanan Katz

A real estate developer and co-owner of the Miami Heat who is part owner of RK Centers.

Walmart

The national retail chain that operates the Supercenter and holds a 20-year lease on the Fort Lauderdale property.

The details

RK Centers, based in Sunny Isles Beach and partly owned by Miami Heat co-owner Raanan Katz, bought the property from an LLC managed by Steven M. Rhodes. The Walmart Supercenter at 2500 West Broward Boulevard was built in 2016 and anchors the 310,000-square-foot Riverbend Marketplace.

November 2015: Walmart began its 20-year lease at the Fort Lauderdale site.
2016: The Walmart Supercenter was built on the 15.6-acre site.
December: RK Centers bought Riverbend Marketplace in Fort Lauderdale for $36 million.
November 3, 2026: Reports of the Fort Lauderdale Walmart-anchored purchase were published.

Market Landscape

The acquisition follows a pattern of investors buying big-box anchored centers in Broward County, where Walmart already operates more than a dozen stores. RK Centers' purchase of the Turtle Crossing plaza in Coral Springs in April shows the firm continuing to expand its South Florida retail holdings.

Shoppers at the Riverbend Marketplace should see no immediate change, since Walmart's lease runs for 20 years from November 2015. The new ownership's plans for the rest of the center have not been disclosed in the source.

The takeaway

Long-term leases with national anchors such as Walmart give retail property buyers stable, predictable income, which helps explain why investors continue to target these centers in South Florida. Residents who shop locally can watch the center for any future tenant or renovation announcements.