WEST PALM BEACH, FL—Atlanta-based real estate investment andmanagement company Jamestown has acquired theVillage Commons shopping center here and has plansto expand the Publix grocery store at theproperty.
Jamestown reportedly paid approximately $51 million for the169,118-square-foot shopping center at 701-971 Village Blvd. Thecenter, anchored by Publix, was 92% occupied at the time of thesale. Other notable tenants at the property include: Panera Bread,Cold Stone Creamery, Massage Envy, Edible Arrangements, WeightWatchers and Duffy's Sports Grill.
In conjunction with the acquisition, Jamestown plans toimplement a $4.5-million capital improvement program, which willexpand Publix to 45,600 square feet as part of a new 20-year lease.Other upgrades to the center will include improvements to thelandscaping, lighting fixtures and the parking lot.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
