Palm Beach Shopping Center Trades For $59 Million
CB Richard Ellis (CBRE) represented an affiliate of the Sembler Company in the sale of Boynton Town Center on Congress Avenue across from the Boynton Beach Mall in Boynton Beach, Florida.
The center is anchored by SuperTarget, Best Buy, Total Wine and Michael’s. Additional national and regional tenants include Shoe Carnival, Jos. A Banks, GameStop, Sweet Tomatoes, 5 Guys Burgers, Massage Envy and LensCrafters.
Boynton Town Center opened in late 2007. The 202,000 SF sale excluded SuperTarget. The premier shopping center is part of a larger development approved for 1,100 residential units. The residential land parcels were not included in the sale.
The property was acquired by Canada-based Morguard Investments Limited. CBRE’s Florida National Retail Investment Group exclusively represented the seller.
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