City Furniture Purchases Retail Property In West Palm Beach For $3.5 Million

A retail property located at 2063 Palm Beach Lakes Boulevard in West Palm Beach has been sold for $3,500,000. The asset spans 8,450 square feet, translating to a price per square foot of $414. The property was previously occupied by Bedding Barn and is now vacant.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,500,000
• Square Footage: 8,450
• Price Per Square Foot: $414
• Buyer: City Furniture
• Broker: Nicholas McAndrew - Marcus & Millichap

The property was acquired by City Furniture as part of a strategic move to expand and redevelop its adjacent store. The seller was represented by a private trust in this transaction.