West Palm Beach, Florida - A Publix Anchored Shopping center is our topic today for Net Lease Properties. The Net Lease Investment Property, Southdale Shopping Center, sold for $12.9 million. This Investment Property is an 87,566 square-foot shopping center with Publix as an Anchor Tenant and a net leased property, CVS. Other tenants include the U.S. Postal Service, and Blockbuster.
This Net Lease Investment was originally developed in 1958 and had a major renovation in 1996. The Net Lease Property was 100% leased at the time of the sale. This Investment Property, Southdale Shopping Center, is located at the intersection of Southern Boulevard and Parker Avenue. The address of the Anchor Tenant Publix is 828 Southern Blvd, West Palm Beach, Florida.
The seller of this Net Leased Property was Southdale CRP LLC, an affiliate of Palm Beach Gardens-based Ram Development Company. Ram Development Company has developed some great projects and are linked to the beautiful, Mixed-Use Midtown Development, in Palm Beach Gardens, Florida. These are just a few of Ram Development Company Commercial Properties, Best Buy - Barnes & Noble in Orlando, Florida, Tuesday Morning Plaza (CRP) in Orange Park, Florida, Boggy Creek in Orlando, Florida, Broadway Promenade (Mixed-Use Commercial Property) in Sarasota, Florida, Central Plaza (CRP) in beautiful St. Petersburg, Florida, Home Depot Portfolio of Properties and Shoppes of Jensen Beach in Jensen Beach, Florida.
The buyer of this Net Lease Investment is BT Palm Beach LLC, an affiliate of Horsham, Pennsylvania based BET Investment. The purchase of this Net Lease Property is a good example of investors buying retail shopping centers with long-term, seasoned tenants that have a proven history of strong sales.
We, at Net Lease Properties are always seeking Publix freestanding, Single Tenant Grocery Stores for sale or a sale-leaseback transaction. Publix Super Markets, Inc. is the dominant supermarket chain operating in Florida.
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