The property asset involved in this transaction is a retail space located at 855 North Railroad Avenue in West Palm Beach, encompassing 4,300 square feet. This asset plays a role in the innovative 40-acre Nora mixed-use project which is being developed to include retail, hotel, and residential elements.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not disclosed
• Address: 855 North Railroad Avenue
• Market: West Palm Beach
• Landlord: Ned Grace - NDT Development; Merrick Kleeman & Jonathan Paul - Wheelock Street Capital
• Tenant: Takahiro Sakaeda, Taka Sakaeda & Jihan Lee - Nami Nori (Launchpad Hospitality)

This deal marks an important expansion for Launchpad Hospitality as they prepare to open their second South Florida location, Nami Nori, following their establishment in the Miami Design District, which is supported by Pharrell Williams. The restaurant will serve as a key component of the growing Nora District, enhancing the retail offerings in the area.