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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.”
- ◦Sale/Acquisition
