PALM BEACH, FL—Seminole Orange Plaza, Building 2, a 5,155-square-foot, four-tenant shopping center in Loxahatchee, has traded hands. The Palm Beach County retail outlet sold for $1.55 million.
SR Loxahatchee, LLC acquired the retail asset from Loxahatchee Venture, LLC, a Florida-based company affiliated with Southern Development Services. CBRE represented the seller.
“Demand is very strong from a variety of private capital sources for unanchored strip centers located in southeast Florida, especially centers that have credit tenants, which is the case at Seminole Orange Plaza,” sys David Donnellan, first vice president with CBRE. Todd Weintraub worked with Donnellan on the deal.
Built in 2012, Building 2 of Seminole Orange Plaza sits at the southeast corner of the intersection of Seminole Pratt Whitney Road and Orange Boulevard. The property was 100% leased to four tenants at the time of sale and included a Walgreens Liquors, Papa John's, a chiropractor and a beauty salon.
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