Acadia Realty Trust Acquires Retail Asset At 225 Worth Avenue In Palm Beach For $43M

This retail asset, located at 225 Worth Avenue in the Palm Beach market, was sold for $43,000,000. It encompasses a total area of 9,900 square feet, resulting in a price per square foot of $4,343. The property is fully occupied by anchor tenant Gucci on a long-term lease, along with G/FORE and J. McLaughlin as additional tenants.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $43,000,000
• Address: 225 Worth Avenue
• Market: Palm Beach
• Square Footage: 9,900
• Price Per Square Foot: $4,343
• Buyer: Acadia Realty Trust
• Seller: JSB Capital Group
• Broker Representatives: Michael Hunter Coghill & Brittany Feinberg - Adirondack Capital Partners

ACP represented the seller, a New York investment firm, and facilitated the buyer in this transaction. The property is a significant asset situated in a prime area, benefiting from strong tenant demand.