CBRE Arranges Sale Of 346,000-SF Shopping Center

Jul 17, 2019 No Comments by

CBRE arranged the sale of Southern Palm Crossing, a 346,200-square foot shopping center in Royal Palm Beach.

Located at 11001 Southern Blvd, the retail center is anchored by a ground-leased Costco, a Marshalls/Homegoods combo store and a newly leased 24-Hour Fitness, slated to replace SteinMart at the property in 2020.

CBRE’s National Retail Partners Team in Florida, led by Executive Vice Presidents Dennis Carson and Casey Rosen, provided exclusive representation to the seller. The buyer was an affiliate of InvenTrust Properties.

 

“The rare inclusion of a ground-leased Costco, one of the world’s best performing retailers, as well as a top notch and high performing line-up of other anchors and shops, made the property highly attractive to Inventrust, which seeks to own truly core assets in major markets with strong demographics, regional draw and a strong grocery component,” commented Carson. “The addition of 24-Hour Fitness in 2020 will drive significant additional traffic to the property and should likewise result in accretive cross-shopping for many of the properties shops and restaurants.”

Southern Palm Crossing serves the affluent, established and growing communities of west-central Palm Beach County, including the highly desirable cities of Wellington and Royal Palm Beach.

 

 

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Industry News, NA, Palm Beach County Retail, Retail
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