(Carl Cronan is editor of RealEstateFlorida.)
BOCA RATON, FL-Federal Realty Investment Trust has acquired DelMar Village, a 153,595-sf neighborhood shopping center anchored bya Winn-Dixie supermarket, from Woolbright Development for $41.7million, or $272 per sf. The cash deal is the first purchase inSouth Florida by Rockville, MD-based Federated Realty.
The acquisition of Del Mar Village, which also features a CVSpharmacy and Sweet Tomatoes restaurant, reflects Federal Realty'sstrategy of purchasing assets in Palm Beach, Broward and Miami-DadeCounties. The REIT cites the contiguous counties' high populationdensity and affluence as strong attractions.
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