A New York investor purchased the Addison Court Shoppes near Boca Raton for $11.1 million, or $531 per square foot.
The property, located at 17940 and 17960 South Military Trail, last sold in 2007 for $9.1 million. It features a 16,860-square-foot shopping center with a 4,000-square-foot Bank of America branch on the outparcel, according to the South Florida Business Journal.
Marcus & Millichap’s Douglas Mandel and Brian Rosen represented the seller, Boca Raton-based HZ Addison Court. It was purchased by LJB2 LLC, an affiliate of Great Neck, N.Y.-based 246-248 Tenth Realty. [South Florida Business Journal] – Christopher Cameron