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Bucksbaum Properties Acquires Plaza La Mer Retail Property In Juno Beach For $27.13M

Property Image
SOLD
$27,130,000
JS
JB

Florida

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Retail66,357 SF
Sold 09/12/2023
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Property Image
SOLD

Bucksbaum Properties Acquires Plaza La Mer Retail Property In Juno Beach For $27.13M

14051 US Route 1

See Similar Deals
Retail66,357 SF
Sold 09/12/2023
JS
JB
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$408
Total Square Footage:66,357 SF
Transaction Type:Sale

Bucksbaum Properties, through its affiliate, has acquired Plaza La Mer, a retail property located in Juno Beach, FL. The property spans 66,357 square feet and sits on 10.2 acres of land. The transaction was completed at a price of $27,130,000, with a price per square foot of $409. Plaza La Mer is home to several tenants, including Dunkin' Donuts and Bank of America.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $27,130,000
  • Square Footage: 66,357
  • Address: 14051 U.S. Highway 1
  • Market: Juno Beach

The buyer, Bucksbaum Properties, was represented by John Bucksbaum in the deal. On the other hand, Delray Property Investments, led by Jeffrey S. Steiner, acted as the seller. The purchase of Plaza La Mer adds to Bucksbaum Properties' portfolio and expands their presence in the retail sector.

Players

JB
John Bucksbaum
2 deals$52.9M volume
BUYER
JS
Jeffrey S. Steiner
2 deals$29.4M volume
SELLER

Details

SOLD
IMAGE: John Bucksbaum DATE: 09/12/2023 ADDRESS: 14051 U.S. Highway 1 MARKET: Juno Beach ASSET TYPE: Retail ~ ACRES: 10.2 BUYER: Bucksbaum Properties - John Bucksbaum (@johnbucksbaum) SELLER: Delray Property Investments - Jeffrey S. Steiner SALE PRICE: $27,130,000 SF: 66,357 ~ PPSF: $409 NOTE: Bucksbaum Properties' affiliate purchased Plaza La Mer, a 66,357 sq ft retail property in Juno Beach, FL, for $27.13 million from Delray Property Investments. It's situated on 10.2 acres with tenants like Dunkin' Donuts, Bank of America, and more.

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$96,387.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$128,610.04
Annual Debt Service$1,543,320.49