IPA Brokers Grocery-Anchored Shopping Center Sale In Palm Beach County
IPA’s Kirk Olson and Drew A. Kristol represented the seller and procured the buyer.
IPA’s Kirk Olson and Drew A. Kristol represented the seller and procured the buyer.
This marks the third transaction between Berger Commercial Realty and the Seller, further solidifying their partnership. Both parties look forward to the continued development of this relationship and the positive impact it will have on the community.
Here are the most popular news headlines this past week on CRE-sources.
Claude Senhoreti, a professional race car driver and owner of Sienna Motors, the Buyer, plans to expand operations into this newly acquired site, enhancing their reputation for high-end automotive offerings. In addition to expanding their vehicle sales, Sienna Motors aims to redevelop the surrounding area into additional automotive uses, further revitalizing the neighborhood.
The 347,740-square-foot grocery-anchored retail center is situated on over 18 acres and boasts an impressive leasing rate of 98.3%.
Chris Spear of ComReal represented the buyer in the transaction, while Sky Groden of JLL represented Stonemont.
The leases total more than 11,500 square feet.
The 33-story tower spans 687,000 square feet.
The mixed-use property features a 20,150-square-foot class A office building with an attached 18,048-square-foot private hangar that can accommodate up to four planes, a luxury 2-bedroom/2-bathroom apartment overlooking the runway, and a prime development opportunity for fee simple-owned land zoned for additional airplane hangars or industrial development.
CBRE, represented by Chris Lee and Sean Kelly, alongside Blanca Commercial Real Estate, represented by Chris Gallagher, Christina Stine Jolley, and Andres Del Corral facilitated the transaction on behalf of the seller. The property was bought by Galium Capital.
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