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Benderson Development Acquires Linton Commons Shopping Center In Delray Beach For $28M

Property Image
SOLD
$28,000,000

Florida

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Retail255,000 SF
Sold 12/05/2023
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Property Image
SOLD

Benderson Development Acquires Linton Commons Shopping Center In Delray Beach For $28M

500 Linton Boulevard, 510 Linton Boulevard & 520 Linton Boulevard

See Similar Deals
Retail255,000 SF
Sold 12/05/2023
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$109
Total Square Footage:255,000 SF
Transaction Type:Sale

Benderson Development has acquired Delray Beach's Linton Commons shopping center for $28 million from Menin Development. The property, located at 500, 510 & 520 Linton Boulevard, spans 9 acres and features retail space totaling 85,000 square feet. The sale price equates to $329 per square foot. Linton Commons shopping center is home to various tenants, including RH Outlet and PetSmart.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $28,000,000
  • Address: 500, 510 & 520 Linton Boulevard
  • Market: Delray Beach
  • Acres: 9

Benderson Development, led by Randall Benderson, completed the purchase of Linton Commons as part of its ongoing investment in South Florida retail. Prior to this acquisition, Benderson Development also bought a Publix-leased building in Pompano Beach.

Players

Benderson Development
Benderson Development
BUYER
CM
Craig Menin
3 deals$123.8M volume
SELLER

Details

SOLD
IMAGE: Randall Benderson & Craig Menin DATE: 12/05/2023 ADDRESS: 500, 510 & 520 Linton Boulevard MARKET: Delray Beach ASSET TYPE: Retail ~ ACRES: 9 BUYER: Benderson Development (@BendersonDevelopment) - Randall Benderson SELLER: Menin Development (@MeninDevelopment) - Craig Menin SALE PRICE: $28,000,000 SF: 85,000 ~ PPSF: $329 NOTE: Benderson Development has purchased Delray Beach's Linton Commons shopping center for $28 million from Menin Development, featuring tenants like RH Outlet and PetSmart. The acquisition reflects Benderson's continued investment in South Florida retail, following its recent purchase of a Publix-leased building in Pompano Beach.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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