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Florida & Gulf Coast  + South Florida  + Retail  |  January 27, 2020
David Cohen
By: David Cohen

JLL Brokers $40M Sale of Royal Palm Beach Retail Center

JLL has arranged the $39.5 million sale of Coral Sky Plaza, a 232,727-square-foot retail center in Royal Palm Beach.

Anchored by a BJ’s Wholesale Club, the 95% leased center is also home to a tenant roster that includes Ross Dress for Less, buy buy Baby, Bed Bath & Beyond, Five Below, IHOP and Famous Footwear. The retail center is situated on approximately 25 acres at 510-590 State Road 7.

Danny Finkle, Luis Castillo and Eric Williams of JLL represented the undisclosed seller in the transaction. Additionally, JLL placed a 10-year, $26.1 million, fixed-rate acquisition loan with Morgan Stanley Bank on behalf of the undisclosed buyer.

“Coral Sky Plaza is a premier retail center in one of South Florida’s most dynamic retail submarkets,” said Finkle. “The outstanding tenant performance from several of the industry’s leading retailers substantiates the quality and desirability of this core Palm Beach County location.”

Connect South Florida is coming to Key Biscayne on Feb. 26, 2020. For more information, or to register, click here.

For comments, questions or concerns, please contact David Cohen

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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.
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