InvenTrust Properties acquired PGA Plaza in Palm Beach Gardens for $88m. Built in 1975 on a 10-acre site, the shopping center offers 21,000 sq ft of space. The property underwent a $14m renovation in 2015 that allowed the developer to build a space for anchor tenants, including Trader Joe’s. Other tenants include Marshalls, Ulta Beauty, Anthony’s Coal Fired Pizza and Orangetheory Fitness. The seller, an affiliate of Menin Development, bought the asset for $17.5m in 2004. InvenTrust currently owns and manages 80 retail properties, totaling more 14.2 million sq ft. At the time of the sale the center was 95 percent leased.
