Bruce A. Percelay Of Mount Vernon Company Acquires Retail Center In Palm Beach Gardens For $66.9M
9810 Alternate A1a
$66,900,000
$321/SF
Building Size
207,900 SF
Asset Type
Retail
Closing
Sep 15, 2026
About this deal
AI
The property involved in this transaction is a retail asset located at 9810 Alternate A1A in Palm Beach Gardens, FL. It encompasses 22.8 acres and has a total square footage of 207,900. The sale price of the asset was $66,900,000, which corresponds to a price per square foot of $322.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $66,900,000
- Buyer: Bruce A. Percelay - Mount Vernon Company
- Seller: Mike Sales - Nuveen Real Estate
- Brokers: Danny Finkle, Jorge Portela, Kim Flores - JLL
- Lender: Beacon Bank
- Financing Amount: $35,900,000
- Occupancy Rate: 98%
- Anchor Tenant: Publix
The transaction was mediated by brokers Danny Finkle, Jorge Portela, and Kim Flores from JLL. The buyer, Bruce A. Percelay of Mount Vernon Company, intends to retain the Promenade Shopping Plaza as a long-term investment following its acquisition from seller Mike Sales of Nuveen Real Estate.
Players
Aoa Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93