Marcus & Millichap Inc.
12/10/2024 | Press release | Distributed by Public on 12/10/2024 15:41
Marcus & Millichap Brokers $10.075 Million Sale of Retail Center in West Palm Beach Metro Area
Press Releases
Marcus & Millichap Brokers $10.075 Million Sale of Retail Center in West Palm Beach Metro Area
December 10, 2024
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WEST PALM BEACH, Fla., Dec. 10, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Cross County Plaza, a 49,451-square-foot retail center in West Palm Beach, Florida, for $10,075,000.
"This transaction highlights the strength of the South Florida retail market and the continued demand for well-located, stabilized assets with a strong tenant mix," said Douglas Mandel, executive managing director. "Cross County Plaza's proximity to downtown West Palm Beach and its growing commercial and residential base adds to the property's appeal, as investors seek assets in dynamic, high-growth areas."
Douglas Mandel, Zach Levine and Josh Gilbert, investment specialists in Marcus & Millichap's Fort Lauderdale office, exclusively marketed the property on behalf of the seller and procured the buyer, Pliskin Realty.
Located at 1922-1948 N. Military Trail, Cross County Plaza is fully occupied and anchored by national retailers including dd's Discounts and K&G Fashion Superstore. The property is an outparcel to the larger Cross County Plaza shopping mall, which features tenants such as Presidente Supermarket, Ross Dress for Less, Youfit Health Clubs, and Ollie's Bargain Outlet. Situated at the corner of Okeechobee Boulevard and Military Trail, the retail center is near Interstate 95 and Florida's Turnpike.
"This transaction highlights the strength of the South Florida retail market and the continued demand for well-located, stabilized assets with a strong tenant mix," said Douglas Mandel, executive managing director. "Cross County Plaza's proximity to downtown West Palm Beach and its growing commercial and residential base adds to the property's appeal, as investors seek assets in dynamic, high-growth areas."
Douglas Mandel, Zach Levine and Josh Gilbert, investment specialists in Marcus & Millichap's Fort Lauderdale office, exclusively marketed the property on behalf of the seller and procured the buyer, Pliskin Realty.
Located at 1922-1948 N. Military Trail, Cross County Plaza is fully occupied and anchored by national retailers including dd's Discounts and K&G Fashion Superstore. The property is an outparcel to the larger Cross County Plaza shopping mall, which features tenants such as Presidente Supermarket, Ross Dress for Less, Youfit Health Clubs, and Ollie's Bargain Outlet. Situated at the corner of Okeechobee Boulevard and Military Trail, the retail center is near Interstate 95 and Florida's Turnpike.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.