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BOCA RATON, FL-Stephen D. Bell & Co. of Greensboro, NC, has purchased Palms Plaza, a neighborhood shopping center in this affluent city, from RM Palms Plaza for nearly $14.5 million. The price equates to approximately $210 per sf.

Palms Plaza is located just south of the intersection of Palmetto Park Road and Powerline Road, in the metro trade area of Palm Beach County. The area is densely populated. The shopping center, which was built in 1988, contains a total of 68,976 sf of rentable space. Its national tenants include Party City, Olive Garden, Washington Mutual Bank and Crown Wine & Spirits.

Casey Rosen, Dennis Carson and Anthony Blanco of Miami-based BlackRock Realty Advisors, along with Barry Ross and Gloria Gemayel of Davie, FL-based Ross Realty Investments Inc. jointly represented RM Palms Plaza in the transaction.

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