Clarion sells Publix-anchored shopping center near Delray Beach

Atlantic Avenue Realty Associates paid $32M for the shopping plaza

Miami /
Dec.December 18, 2017 03:06 PM

Village of Oriole shopping plaza and CEO of Clarion Partners David Gilbert (Credit: Ramco Gershenson and Clarion Partners)

Clarion Partners just sold a Publix-anchored shopping plaza west of Delray Beach for $31.7 million, property records show.

Records show the buyer, Atlantic Avenue Realty Associates LLC, financed the deal with a $20 million loan from Florida Community Bank. The Delaware company is managed by attorney Myron D. Vogel of Melville, New York.

Atlantic Avenue Realty paid about $200 per square foot for Village of Oriole, a 150,000-square-foot shopping plaza at 7205 West Atlantic Avenue, and two buildings housing a Wells Fargo, Dunkin’ Donuts and a Bank of America with 7,515 square feet.

Records show Clarion paid $23 million for the properties in 2005.

The New York-based real estate firm manages more than $42 billion worth of properties, according to it website. In 2015, it partnered to purchase the Palm Beach Outlets shopping center for $278 million. Last year, the company paid $109 million for the ground leases of a major mixed-use building on Lincoln Road.


Related Articles

arrow_forward_ios
Gatsby Enterprises'  Babak Ebrahimzadeh with 25 and 45 Northeast Second Avenue, as well as at 220 Northeast First Street (Loopnet, LinkedIn)
All aboard! Gatsby buys railroad-themed Delray Beach retail plaza for $30M
All aboard! Gatsby buys railroad-themed Delray Beach retail plaza for $30M
River Oaks founder and Chairman Gerald Rubin and Shop Delray at 8918 Atlantic Avenue in Delray Beach (River Oaks Properties El Paso)
River Oaks picks up Delray Beach shopping center for $26M
River Oaks picks up Delray Beach shopping center for $26M
Kaufman's Michael Kaufman with 3185 South Congress Avenue (Kaufman, Google Maps)
Kaufman Lynn sells Delray Beach HQ for $10M, but firm won’t relocate
Kaufman Lynn sells Delray Beach HQ for $10M, but firm won’t relocate
Google Street View of the properties at 551 Southeast Eighth Street and 551 Southeast Fifth Avenue in Delray Beach with CDS International Holdings founder Carl DeSantis (Google Maps, CDS Holdings)
Celsius energy drink investor Carl DeSantis pays $25M for Delray Beach offices
Celsius energy drink investor Carl DeSantis pays $25M for Delray Beach offices
Hollywood Locations' Christopher Ursitti and 1400 Northwest 31st Avenue (Hollywood Locations, Google Maps)
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Movie studio complex may rise on former incinerator site in Fort Lauderdale
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
Jackie Soffer with 2750 Northeast 199th Street (Google Maps, Turnberry.com)
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
NRIA CEO Rey Grabato and U.S. Construction John Farina with 1901 South Ocean Boulevard (LinkedIn)
Developers complete Ocean Delray condo project with estimated $126M sellout
Developers complete Ocean Delray condo project with estimated $126M sellout
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...