Lake Worth, FL – May 29, 2015 – (RealEstateRama) — CBRE arranged the sale of Lantana West Plaza, a 26,340-square-foot, multi-tenant retail center located at 5891 S. Military Trail in Lake Worth, Florida. Woodmont Properties II, LLC purchased the property for $4,080,000. The seller was IR-Lantana West Plaza, LLC, which hired CBRE to market the asset for sale and negotiate the transaction.
The property is located at the signalized intersection of Lantana Road and Military Trail, about two miles west of Interstate 95 in western Palm Beach County. The shopping center is 100% leased with a mix of local and national retail and service tenants. Key tenants include Domino’s Pizza, Metro PCS, Boost Mobile, and The Children’s Academy.
“The market for well located, highly visible, unanchored retail centers in solid locations are in high demand,” said David J. Donnellan, First Vice President with CBRE. “Lantana West Plaza has been a consistent performer and was 100% occupied at time of sale. It maintains many qualities typically found in successful shopping centers including excellent visibility, easy access, dense in-fill area, and a nice diversity of uses that cater to the neighborhood.”
David Donnellan and Todd Weintraub of CBRE managed the sale. Based in Fort Lauderdale, they are part of CBRE’s Investment Properties Group focusing on the disposition of multi-tenant shopping centers in South Florida and single-tenant, net-leased properties throughout the state.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
Contact:
Elizabeth Cross
305.428.6373
elizabeth.cross (at) cbre (dot) com
Melinda Sherwood
305.381.6453
melinda.sherwood (at) cbre (dot) com
