Myron Vogel buys Okee Square center in West Palm

The property, which sold for $18.4M, is anchored by Advance Auto Parts, Michael’s and Staples

TRD MIAMI /
Jun.June 06, 2018 03:30 PM

Okee Square

The Okee Square shopping center in West Palm Beach just sold to a Boca Raton real estate investor for $18.4 million.

Myron Vogel purchased the 124,000-square-foot center at 2015 Okeechobee Boulevard for about $148 per square foot from a New York-based company owned by Itzhak Ashkenazy and Jonathan Agus. Ashkenazy and Agus bought the property for $14.5 million in 2006.

The shopping center consists of about 103,690 square feet of inline space as well as two out parcels – a 16,010-square-foot Rooms To Go Kids and a 4,300-square-foot PDQ Restaurant. It is near I-95 and includes 575 feet of frontage on Okeechobee Road.

Okee Square is anchored by Advance Auto Parts, Michael’s and Staples, which account for 62 percent of the total rentable square footage, according to Marcus & Millichap’s Wolfe Retail Group. Advance Auto Parts recently signed a 10-year lease in July of 2017, and both Staples and Michaels recently extended their lease terms until 2022 and 2023. Vogel said is looking to find a national tenant to fill a vacancy left by Bed Bath & Beyond.

Vogel owns another shopping center, Crosstown Plaza at 2895 North Military Trail, which is anchored by a Publix and said he also owns property in Delray Beach.

Marcus & Millichap’s Douglas K. Mandel, Elon D. Gerberg, Barry M. Wolfe and Alan Lipsky brokered the deal.


Related Articles

arrow_forward_ios
Daily Digest Miami

Ben Carson talks Opportunity Zones, top developers riff on condos vs. rentals: Daily digest

Daily Digest Miami

Quiksilver signs a lease in Miami Beach, Delray Beach’s Atlantic Crossing announces first retail and office tenants: Daily digest

The Bristol and Thomas J. Healey

Financial mogul pays $6.5 million for unit at the Bristol in West Palm

2751 South Dixie Highway, Scott Sherman and Ben Mandell

Tricera reveals plans for redevelopment of Palm Beach Post building

Publix plans to build and open a grocery store in Hollywood (Credit: Getty Images, Pixabay)

Boaters, rejoice: Waterfront Publix with boat access moves forward

Daily Digest Miami

The trade war could hurt the industrial real estate boom, Hurricane Dorian’s impact on Florida’s hotels: Daily digest

James Harpel and The Bristol in West Palm Beach

South Florida developer pays $8M for condo at the Bristol

A rendering of The Bristol

NJ car dealer buys Bristol unit for $11M

arrow_forward_ios