CRC Snags LA Fitness-Anchored Shopping Center in Palm Beach County for $11M
Continental Realty Corp. (CRC), a Baltimore-based real estate investment and management company, has acquired The Shoppes at Sherbrooke, a 57,901-square-foot neighborhood shopping center anchored by LA Fitness in Palm Beach County. The sales price was $11.3 million.
The center is located in the Lake Worth section of Palm Beach County, Florida, less than 15 miles from downtown West Palm Beach. Constructed in 2004 and positioned at 8954 Lantana Road, the center features a tenant mix comprised of six national and local retailers offering fitness; medical, consumer and veterinary services; in addition to a fast-casual dining option for the local community. The eight-acre site also includes a nearly one-acre undeveloped land parcel.
Kirk Olson and Drew Kristol of Marcus & Millichap represented the undisclosed seller in the transaction.
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.