
Cushman & Wakefield Arranges Sale of Delray Beach Mixed Use
Cushman & Wakefield has arranged the $3.875 million sale of a 12,940-square-foot mixed-use property at 258 SE 6th Ave. in Delray Beach, FL.
Mike Ciadella, Scott O’Donnell, and Dominic Montazemi of Cushman & Wakefield represented seller Delray SE 6th Development Partners, LLC in the transaction. The property was acquired by CDS International Holdings, Inc.
βThe buyer appreciated that the property offered immediate upside via below market in-place rents and long-term upside as a potential redevelopment in the future,β Ciadella said.
The property sits on .58 acres and includes a two-story building with retail and office space just two blocks south of the world-famous Atlanta Avenue. Fully occupied by a mix of retail, medical, and office tenants, the building offers visibility to 14,000 vehicles per day along South Federal Highway and approved zoning for potential redevelopment of the property for residential or hotel use.
- ◦Sale/Acquisition