WEST PALM BEACH, FL-Southdale Shopping Center, an87,566-square-foot Publix-anchored center, sold for $12.9 million.CVS, the U.S. Postal Service, and Blockbuster are also tenants inthe vintage 1950s center.

Cushman & Wakefield’s Southeast Capital Markets GroupExecutive Vice President Mark Gilbert, Executive Director AdamFeinstein, and Senior Financial Analyst Eric Williams representedthe seller, Southdale CRP LLC, an affiliate of Palm BeachGardens-based Ram Development Company. The buyer was BT Palm BeachLLC, an affiliate of Horsham, PA-based BET Investment.

“This sale is a good example of investors buying centers withlong-term, seasoned tenants that have a proven history of strongsales,” Gilbert tells Globest.com. “Instead of a Publix with a20-year lease, you may have a Publix into its option period but therisk of losing the anchor is low because sales are so strong andthere are limited development options nearby.”