Colliers Executive Vice Presidents Sabrina Stimming and Steven Henenfeld, Vice President Ruben Suarez, and Associate Vice President Ariel Davis will lead leasing efforts for the properties on behalf of Stiles Retail Group.
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.
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The 25,127-square-foot building is fully occupied.
The lease is structured as a five-year NNN lease with a rent of $70 per square foot.
J.P. Morgan and Hudson Bay Capital provided financing for the 97% pre-leased mixed-use destination
in Downtown Delray Beach.
The 24-story development will comprise 333 luxury condominium residences and a retail component anchored by a new 36,000-square-foot Publix Super Market.
Colliers announced that Scott Allen has joined the firm as Senior Vice President, based in its Fort Lauderdale office. Allen brings more than 27 years of commercial real estate experience, specializing in tenant representation and strategic advisory services for clients throughout South Florida and across the country. “Scott is one of South Florida’s most respected […]