Centerstone Property Group Acquires Retail Asset In Boca Raton For $9.4 Million

The retail asset at 7880 Glades Road in Boca Raton has been sold for $9,400,000. The property spans 36,351 square feet, translating to a price per square foot of $258. This transaction took place in the Boca Raton market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $9,400,000
• Buyer: Centerstone Property Group, represented by Russell Nova, Ethan Karavani, Andrew Lasky, Lawrence Kuts, and Igor Zakh
• Seller: PEBB Enterprises, represented by Ian Weiner and Eric Hochman; and Banyan Development, represented by Jason Sher and Ross Feurring
• Financial Advisor: Igor Zakh - Cornerstone Capital Financing
• Purchase Date: 04/24/2025

Russell Nova serves as the Principal at Centerstone Property Group, with plans to implement a business strategy focused on converting tenants from Gross to NNN leases. Lawrence Kuts is the Acquisitions Director at Centerstone Property Group, open to connecting on off-market transactions. The company aims to attract high-traffic tenants and lease the Lakeside Terrace to a operator known for its full kitchen and scenic views of the lake.