Delray Beach Retail Assets Hit The Market At $21.5 Million

Oct 15, 2014 No Comments by

Marcus & Millichap has obtained the exclusive listing for The George Buildings, two adjacent corner retail assets totaling 19,855 square feet.

The George BuildingsThe two buildings are listed together for $21,500,000.

Howard Bregman, an associate in Marcus & Millichap’s Fort Lauderdale office, is marketing the portfolio on behalf of the seller, a South Florida family corporation. It is the first time the property has been offered for sale in more than 100 years.

“This is an extraordinary opportunity for an investor to acquire prime retail assets with over 165 feet of frontage on East Atlantic Boulevard,” says Bregman. “Tenant demand and development continue to rise in Delray Beach, especially with the revitalization and redevelopment of the Delray Beach Art District, which has transformed the area into a major tourist attraction. A brand new IPIC Theater is scheduled to open directly behind the property in 2015.”

Located on the southeast and southwest corners of Atlantic Avenue and SE 4th Street, at 326 and 400 East Atlantic Ave., the properties occupy the two most recognizable corners of Downtown Delray Beach.

The George Buildings are 1.4 miles east of Interstate 95 and one-half block west of Federal Highway with convenient access to the area’s major transportation corridors and excellent connectivity to the rest of Delray Beach and all of South Florida.

 

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Broward County Retail, Industry News, NA, Retail
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