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Florida & Gulf Coast  + South Florida  + Retail  | 

CBRE Arranges $8M Sale of West Palm Retail Center

CBRE has arranged the $7.8 million sale of Woodlake Boulevard Plaza, a 51,399-sqaure-foot retail center in West Palm Beach. David Donnellan and Patricia Friend of CBRE represented the seller, a Florida-based entity, in the transaction. The buyer was Woodlake Partners LLC, a Philadelphia-based private investment group.

Located at 6125 Lake Worth Road in Greenacres, FL., the property is occupied by a tenant roster that includes Third Federal Savings & Loan, Bicycle World, Gastro Health and Sylvan Learning Center.

“The sale of Woodlake Boulevard Plaza is further evidence of a resurgent investment sales market for shopping center investment sale transactions,” said Donnellan. “Smaller neighborhood centers comparable to Woodlake Boulevard Plaza have actually held up relatively well during the pandemic, with this property experiencing limited tenant rent collection issues. The level of investor interest in shopping centers as well as pricing seems to have completely rebounded to pre-pandemic levels.”

Connect

Inside The Story

CBRE’s Donnellan

About David Cohen

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. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Sale/Acquisition