North American Development Group buys Palms Plaza in Boca Raton

North American Development Group closed on its $18.5 million purchase of the 70,000-square-foot Palms Plaza shopping center in Boca Raton. The 92 percent-occupied complex, at 22191 Powerline Road near Palmetto Park Road, is anchored by Party City, Chase Bank and an Olive Garden. CB Richard Ellis brokers Casey Rosen, Dennis Carson and Nikolas Kozy represented the sellers, Bell Partners, in the transaction. [SFBJ]