The Real Deal Miami

Boynton Beach shopping center finds a buyer

RMS Properties acquires leasehold interest, with 33-year term
June 13, 2013 04:00PM


Quantum Village shopping center in Boynton Beach

The Quantum Village shopping center in Boynton Beach has been sold to an Illinois-based rental management company RMS Properties, according to a release from Stiles Realty, which represented the owner BBX Capital Corporation.

Stiles Realty represented BBX Capital in the deal for the 93,144-square foot Publix-anchored property located at 1005 West Gateway Boulevard. The buyer acquired a leasehold interest only, with a 33-year term, Stiles said. The sales amount was not released.

The shopping center, developed in 2007, is 71 percent leased to tenants such as CrossFit, the UPS Store, Allstate and Supercuts. It was the defendant in a foreclosure action by Secured Holdings of Newport Beach, Calif. in 2010, as previously reported.

Stiles Realty broker associate Kimberly Barbar and Vice President of Retail Leasing Ryan Karlin were involved in the sale, the release said. –Mark Maurer