The Publix anchored Crosstown Plaza in West Palm Beach has changed hands for the first time in nearly 28 years. West Palm Realty Associates bought the plaza for $24.3 million. Built in 1987, the 130,000 square-foot retail strip on North Military Trail traded for just under $187 per square foot. The plaza was developed and sold by Brock Development, a real estate firm based in Palm Beach Gardens. In addition to Publix, the center’s national tenants include Beall’s Outlet, Burger King, Chase Bank, Bank of America, and Pizza Hut. The deal was finalized with the buyer assuming a $12.8 million securitized loan serviced by Berkadia Commercial Mortgage.
