PALM BEACH GARDENS, FL-North Beach Plaza, a 96,548-sf neighborhood shopping center here, has been sold for $14.2 million cash. The price represents $147 per sf. A private real estate investment company from Birmingham, AL purchased the center from ROHO North Beach Ltd. a local partnership headed by Ross Realty Investments, based in Davie.The 20-year-old property drew a number of qualified offers, according to RJS Realty Group Inc. Steve Miskew, managing director, and Bob Sullivan, president of RJS Realty Group, represented ROHO in the transaction. RJS and Ross Realty were the only brokers in the deal. Tenants at the center, located at the northwest corner of US Highway One and Juno Road, include a 24,000-sf Sound Advice, the 10,150-sf West Marine and the 10,473-sf California Fine Arts, as well as Anthony’s Ladies Apparel, Blockbuster Video and Burger King.In June 1998, RJS Realty Group sold the center to ROHO for $8 million. ROHO refurbished the center and added Sound Advice as the anchor tenant.”North Beach is an exceptionally located center with a stable tenant base and historically very little vacancy,” Miskew says in a statement. “It is strategically situated in the midst of a very affluent trade area. It should prove to be a very sound investment. … This is just one more example of the hearty appetite buyers have for well-located neighborhood centers.”

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