The buyer is a client of Prudential Real Estate. The seller, Boca Raton-based Birch Development Ltd., was represented by West Palm Beach-based RJS Realty Group, which was the sole broker in the transaction. RJS Realty president Bob Sullivan and managing director Steve Miskew arranged the transaction. "The seller built a highly attractive asset to the capital markets," Sullivan tells GlobeSt.com. "There is a high demand for quality retail centers so the seller wanted to take advantage of the market. The sales price in excess of $400 per sf evidences the continued strong demand."
The property is located adjacent to the 1.3 million-sf Mall at Wellington Green and is one-half mile west of the southwest corner of Forest Hill Boulevard and State Road 7. Built in 2006, tenants in the 100% occupied property include Fresh Market, Bassett Furniture Direct, Kirkland's Home and City Mattress.
"This newly built property is a very attractive asset in a highly visible and heavily trafficked location," Miskew says. "The center enjoys excellent exposure, with over 1,000 feet of frontage on Forest Hill Boulevard, directly in front of the mall."
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