Boca notches $41M commercial deal

Maryland-based real estate firm Federal Realty Investment Trust has purchased the Del Mar Village shopping center west of Boca Raton for $41.7 million. The firm paid cash for the 154,000-square-foot Del Mar Village center at the northwest corner of Palmetto Park and Powerline roads. The seller, Woolbright Developers of Boca Raton, bought the center in late 2005 for $30 million. Federal Realty has tried to buy other properties in South Florida over the past few years but has been outbid. Federal plans to look for more deals in the area.