River Oaks Properties Acquires Shop Delray Retail Asset For $25.5M
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This Retail property located in FL was sold for $25,500,000 over 1 year ago. The brokers of the deal were David B. Chasin and Daylin Ackerman
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- Location8918 West Atlantic Avenue, Delray Beach, Florida 33446, United States
- Sale Price$25,500,000$750 PPSF
- Area34,000 SF
- Asset TypeRetail
- Parties2 Brokers, 1 Agency
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Deal Summary
SALE
IMAGE: David Chasin & Daylin Ackerman
DATE: 06/30/2022
ADDRESS: 8918 W Atlantic Ave
MARKET: Delray Beach
ASSET TYPE: Retail
BUYER: River Oaks Properties (@River_Oaks_Properties)
SELLER: Banyan Development
BROKERS: David Chasin (@DavidChasin) & Daylin Ackerman (@DaylinAckerman) - Pegasus Investments Real Estate Advisory Inc.
SALE PRICE: $25,500,000
SF: 34,000 ~ PPSF: $750
NOTE FROM BROKERS: On behalf of River Oaks Properties ("River Oaks"), a Texas-based owner-operator of Class-A shopping centers, Pegasus Investments Real Estate Advisory Inc. ("Pegasus") is pleased to announce the recent acquisition of the newly constructed Shop Delray, a 33,000 square foot, open-air neighborhood shopping center in Palm Beach County, Florida. Acquired by River Oaks from Banyan Development for approximately $25.5 million, Shop Delray is a trophy-quality retail asset located at the corner of W Atlantic Avenue and Lyons Road, where West Delray Beach and Boca Raton intersect.
Anchored by Joseph's Classic Market, a family-owned Italian specialty market, Shop Delray is 100% leased to an exciting mix of restaurant, lifestyle, medical service, and retail tenants, including Warren American Whiskey Kitchen, Club Pilates, Nekter, Ripe, and Mattress Xperts. Shop Delray was developed by real estate industry veterans Ross Feurring and Jason Sher of Boca Raton, Florida-based Banyan Development.
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8918 West Atlantic Avenue
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