West Palm Beach’s 130,000-square-foot Polo Grounds Mall has been purchased in a joint venture between New York-based Blackpoint Partners and Atlantic Creek Real Estate Partners for $14.4 million, or approximately $110 per square foot. Commercial Properties Realty Trust of Baton Rouge was the seller of the 92-percent-leased shopping center.
“We are excited to work with Atlantic Creek and are confident that our hands-on management style will further improve the quality and tenancy of the Polo Grounds Mall,” said Saul Scherl, Blackpoint co-founder. In 2007, the mall, which is located at 4075 Haverhill Road North, underwent a $12.5 million renovation. That same year a 45,000-square-foot Publix grocery store became the mall’s anchor tenant. Publix has 15 years left on its lease. – Christopher Cameron