PEBB Enterprises Closes Sale Of Delray Landing In Delray Beach

PEBB Enterprises completed the successful sale of Delray Landing, a Sprouts-anchored neighborhood shopping center in Delray Beach.

PEBB, in a joint venture with Cincinnati-based Topvalco Inc., sold the property for $30 million to 30 Realty LLC. The transaction closed on Jan. 22.

Eric Williams and Cole Frantz from Newmark represented the seller in the transaction.

Located at 5024–5070 W. Atlantic Ave., Delray Landing underwent a comprehensive redevelopment during PEBB and Topvalco’s ownership. The improvements included a new façade and roof, along with upgraded parking, site lighting, signage and landscaping. The carefully planned project serves as a major catalyst for the Central Delray area and a focal point where members of the community can gather, shop and dine.

The shopping center is also home to a strong mix of national and local tenants, including Retro Fitness, Keke’s Breakfast Café, CJ’s Sports Bar & Grill and Good Vets.

“Delray Landing represents the type of well-located, community-focused retail asset that aligns perfectly with our investment strategy,” PEBB Enterprises CEO Ian Weiner said. “Through our joint venture with Topvalco, we were able to reposition the center with meaningful physical upgrades that enhanced both its functionality and its role within the neighborhood. We thank Topvalco for a great partnership at Delray Landing, and we are excited for the continued success of the property.”

PEBB has a long history with the property, having previously purchased Delray Landing -formerly known as Delray Commons – in 2003 and owning it for more than a decade before selling it in 2015. Topvalco acquired the property three years later, and the firms partnered again in 2021.

Following the disposition, PEBB continues to pursue new retail, office and mixed-use investment and development opportunities throughout Southeast U.S.