Cushman & Wakefield, Katalyst Real Estate & Development Arrange $38.2M Sale of Trophy Corner Along Atlantic Avenue
The $38.2 million sale represents one of the largest commercial transactions ever in Delray Beach.
The $38.2 million sale represents one of the largest commercial transactions ever in Delray Beach.
The landmark transaction is the largest grocery-anchored shopping center sale in northern Palm Beach County in more than five years.
The site comprises 50,000 square feet of retail across three buildings, along with a 60,000-square-foot, three-story self-storage facility.
The suburban, campus style, professional and medical office complex totals 254,015 square feet.
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The 25,127-square-foot building is fully occupied.
A 10-building small-bay industrial portfolio spanning nearly 730,000 square feet has changed hands in Miami-Dade County, underscoring continued investor interest in infill industrial assets.
A sizable speculative office development is moving forward along the I-95 corridor in Dania Beach, adding another major project to South Florida’s evolving office pipeline.
The acquisition represents a notable diversification of the buyer’s South Florida holdings.
The lease is structured as a five-year NNN lease with a rent of $70 per square foot.
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