Wings Plus-anchored shopping center on West Sample Road sold for $7.4 million
The home of one of Coral Springs’ longtime mainstay restaurants has been sold for nearly $3 million more than its 2021 purchase price.
David Ragno, co-founder of DRG Real Estate, paid The Geneva Group nearly $7.4 million for 9830-9880 W. Sample Rd., according to Broward County records. That’s about $285 per square foot.
According to Marcus & Millichap, the firm that brokered the deal, the downtown Coral Springs area has been a development hotspot this past year.
“The Sample Road corridor is undergoing significant redevelopment, including Cornerstone Plaza and the planned City Village district, bringing new activity to the area,” the firm said in a news release Dec. 18.
The Cornerstone development and proposed City Village concept at the former City Hall both aim to bring more shoppers to the area.
The Sample plaza’s current tenants include Wings Plus, an ice cream shop, a dentist, a salon and several other businesses.
The deal is the fifth of its kind in less than three months in Coral Springs, indicating a pattern of commerical real estate ownership swaps.
Who are the parties in the transaction?
Deerfield-based Geneva Group is an investment firm that specializes in “under-capitalized” and “mispriced” parcels, taking control of distressed properties and funding redevelopment. The group purchased the West Sample parcel for $4.6 million from its original owner, VLN Development, in 2021.
Ragno, the parcel’s new owner, is the CEO of insurance and risk management company Keyes Coverage.
What’s behind the trend?
According to documents from the MIAMI Association of Realtors, Broward County topped the tri-county area for real estate sales growth between Jan. 1 and Sept. 30, with sales totaling $4 billion. Investors’ moves indicate an expectation that these properties will become more valuable in the years to come.
Why make the move now?
Retail space in the Fort Lauderdale area had a less than 4% vacancy rate in the third quarter of 2025, a report from commercial real estate broker Matthews states, indicating that physical storefront spaces close to where people live and work continue to be in high demand.
Population growth is a major factor at play. As more people move to Broward County, there is greater demand for staples like fitness centers, grocery stores, healthcare providers and entertainment hubs, all of which require physical storefronts to operate.
Land supply is the other element. New construction, especially for shopping centers, is slow in the region, analysts say. As businesses look to expand — Publix and Crunch Fitness are two major players in the space — landlords are able to charge higher rent because demand consistently outpaces supply.
