Canadian investment firm buys Boynton Beach retail center

Shoppes of Boynton traded for about $180 psf

Miami /
Mar.March 09, 2018 04:30 PM

Shoppes of Boynton and Northbridge’s Adam Lazier (Credit: Atlantic Retail and Northbridge)

Shopping centers continue to sell in South Florida.

Toronto-based Northbridge Investment Management just paid $27.8 million for The Shoppes of Boynton, a 151,830-square-foot retail center in Boynton Beach, property records show.

The center at 2234 North Congress Avenue traded hands for about $180 per square foot. The seller, Boynton FCA LLC, is an affiliate of Charlotte, North Carolina-based FCA Partners.

Records show the Shoppes of Boynton last sold for $19.4 million in 2012. It’s anchored by a Ross Dress for Less, with other tenants including Tuesday Morning, FedEx and Miller’s Ale House.

Just this week, Publix dropped $37.3 million for two shopping centers it anchors in Miami-Dade County. Last year, some of the priciest retail deals in South Florida were grocery-anchored retail centers, with the exception of the $283 million sale of mixed-use retail center 1111 Lincoln in Miami Beach.

Over the summer Northbridge paid $33.2 million for a shopping center in West Boca Raton and $16.5 million for the Kendall Pointe shopping center in Miami-Dade. The Canadian firm invests in large-scale industrial, retail and office properties, according to its website.


Related Articles

arrow_forward_ios
The current Miami Beach North Shore library with Mayor Dan Gelber (Google Maps, Gelber)
Miami Beach seeks buyers for city-owned development sites
Miami Beach seeks buyers for city-owned development sites
Developer David Edelstein and Robert Levine of RAL Development with the project (Getty, RAL)
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Walton Street Capital Managing Partner Eric Mogentale with the complex (Alta Developers, Walton Street Capital)
Walton Street Capital buys Boynton Beach apartments for $93M
Walton Street Capital buys Boynton Beach apartments for $93M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
arrow_forward_ios

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

Loading...