DELRAY BEACH, FL-The Delray Square 1 shopping center, anchored by grocer Publix, is headed for the auction block later this month.
The owner of the property recently lost an $18.8-million foreclosure judgment, according to the South Florida Business Journal. U.S. Bank, representing a commercial mortgage-backed securities trust with LNR Partners as special servicer, won the judgment stemming from a 2010 lawsuit against property owner Kimcb Delray Square over a $13-million mortgage, plus interest and fees.
The 115,538-square-foot shopping center at 4823 W. Atlantic Ave is anchored by a nearly 38,000-square-foot Publix store. Other tenants include Delray Square Cinemas, 12,632 square feet; Livingston Group, 4,615 square feet; and Mackinac Savings Bank, 4,365 square feet.
The property is scheduled for an online auction on Jan. 24. See story in the South Florida Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
