CBRE has arranged the $3.5 million sale of Country Grove Plaza, a 16,652-square-foot retail center in West Palm Beach. Located at 1336-1368 S. Military Trail, tenants at the center include Domino’s Pizza, Classic Grocery Mart and Las Americas Café.
David Donnellan and Patricia Friend of CBRE represented the seller in the transaction, MPI/Country Grove Inc., an entity related to Milestone Properties based in Delray Beach. The buyer was, a North Miami Beach-based private investment group.
“Country Grove Plaza adds to a growing list of recent multi-tenant retail center sale transactions, as we seem to be in the final innings of the pandemic’s abrupt disruption to the market,” said Donnellan. "Smaller neighborhood centers similar to Country Grove have actually held up relatively well during the pandemic, with this center experiencing virtually no tenant rent collection issues since the onset of the pandemic.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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