A Weston-based company purchased the Delray Commons retail center for $10.75 million. Located at 5020-5080 Atlantic Avenue in Delray Beach the 68,292-square-foot center was built on a 7.2-acre site in 1981. At the time of closing, the property was 98 percent leased. Tenants include World Gym, Burger King and CJ’s Sports Bar & Grill. The seller, the Boca Raton-based Pebb, was represented in the sale by David Donnellan and Patricia Friend of CBRE.
“Delray Commons is poised for long term stability and success due to its prime southern Palm Beach county location at the major retail intersection of Military Trail and Atlantic Avenue in western Delray Beach,” said Donnellan. “The property will continue to benefit from a trade area population base that has been gradually trending from a predominantly senior citizen profile to a younger demographic.”
