Uriel Investments has acquired a retail center in Royal Palm Beach, Florida from Baltimore-based commercial real estate investment and management company Continental Realty Corporation. Changing hands for $7.5 million, the 30,500 square foot retail center is located at 101 South State Road 7. The property was 100 percent leased at the time of the sale to national retail firms Office Depot and Mattress Firm. David Donnellan and Mark Drazek of CBRE represented Continental Realty who purchased the asset in 2011. “The new owner acquired a strategically-located, fully-leased retail asset in a consistently growing and affluent section of Palm Beach,” said David Donato, Senior Vice President, Commercial Division for Continental Realty Corporation. “During our nearly five years of ownership, we significantly increased the value of the center by negotiating long-term leases with credit worthy tenants and maintaining the center in peak operating condition.”
