Village Commons Fetches $26 Million

Village Commons, a Publix-anchored shopping center located just west of I-95 at the intersection of Village Boulevard and Brandywine Road in West Palm Beach, Florida, was acquired by a fund managed by BlackRock, Inc., for $25,700,000 or $152.02 per sq. ft.
The property is currently 73.2% leased and features national and regional tenants including Publix, CVS, Panera Bread and Starbucks and has an in-fill location with limited sites for future competition.
CBRE’s National Retail Investment Group Florida Team exclusively represented the seller which is a venture between Regency Centers, First Washington Realty, Inc., and the California Public Employees’ Retirement System.