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South Florida

NY investors sell Publix-anchored shops for $17M

Publix at Polo Grounds Mall in West Palm Beach
Publix at Polo Grounds Mall in West Palm Beach

An affiliate of New York-based Blackpoint Partners sold the Polo Grounds Mall in West Palm Beach for $16.67 million, according to Palm Beach County records.

FREP III-Polo Grounds, a company tied to Tampa-based Forge Capital Partners, acquired the 132,241-square-foot shopping center, which sits on 17 acres. Tenants include Publix, Chase Bank, U.S. Post Office, Papa John’s Pizza, a barber shop and Green Cafe.

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The mall, at 816 South Military Trail, was built in 1966, and it underwent a $12.5 million renovation in 2007, including the construction of a 45,000-square-foot Publix. It last sold in May 2012 for $14.4 million, according to Palm Beach County property records.

Blackpoint is a private real estate investment and management firm.