Craig Menin buys building on Delray’s Atlantic Ave

Nearly 50K sf retail and restaurant building was recently renovated

TRD MIAMI /
Dec.December 10, 2018 03:45 PM

Craig Menin

Delray Beach developer Craig Menin paid $31 million for a piece of East Atlantic Avenue, property records show.

Menin’s Rosebud 110 LLC bought the 48,800-square-foot retail and office building at 110 East Atlantic Avenue from a company tied to RMS Properties, a Schaumburg, Illinois-based property management firm. Menin financed the deal with a $26.5 million loan from BankUnited.

The property last sold for $8.5 million in 2014, according to records, and was recently renovated.

The building sits on nearly half an acre of land about seven blocks west of the Intracoastal Waterway. It features two restaurants, 40,000 square feet of Class A office space, 132 underground parking spaces and a new lobby, according to Menin Development’s website. Rocco’s Tacos is leasing the ground floor retail space.

Earlier this year, Menin Development sold the PGA Plaza in Palm Beach Gardens for $88 million.

The company is also planning to open Delray City Market, a mixed-use building just south of Atlantic Avenue in downtown Delray Beach, early next year. The 120,000-square-foot development will include a 30,000-square-foot food hall, a parking garage and event space.

Late last month, controversial developer Harold “Sonny” Van Arnem emerged as a new bidder in the contentious West Atlantic mixed-use project proposed for the city’s 600 to 800 block.


Related Articles

arrow_forward_ios
Mark Pulte & 701 South Ocean Boulevard, Delray Beach (Credit: Google Maps)

Mark Pulte’s homebuilding firm buys Delray Beach oceanfront lot for $11M

Mark Pulte’s homebuilding firm buys Delray Beach oceanfront lot for $11M
1275 North Ocean Boulevard, Flex Seal founder Phil Swift (Credit: Daniel Petroni Photography/Douglas Elliman)

Flex Seal founder seals the deal for Gulf Stream mansion

Flex Seal founder seals the deal for Gulf Stream mansion
Lee Kennedy, Bob Bartosiewicz, and 963 Evergreen Drive (Credit: Google Maps)

Seeing dollar signs: Former finance head sells waterfront Delray Beach mansion

Seeing dollar signs: Former finance head sells waterfront Delray Beach mansion
Max Weinberg and Delray Beach (Credit: Sergione Infuso/Corbis via Getty Images)

Born to serve: Springsteen drummer Max Weinberg joins Delray planning and zoning board

Born to serve: Springsteen drummer Max Weinberg joins Delray planning and zoning board
Cortland Partners CEO Steven DeFrancis and Depot Station apartment complex in Delray Beach (Google Maps)

Cortland pays $74M for Depot Station apartments in Delray Beach

Cortland pays $74M for Depot Station apartments in Delray Beach
Rendering of Echelon in Delray Beach

Developer plans boutique oceanfront condo project in Delray Beach

Developer plans boutique oceanfront condo project in Delray Beach
3200 South Federal Drive Delray Beach, Oak Street Real Estate Capital’s Jim Hennessy (Credit: Google Maps and LinkedIn)

Private equity firm sells Walgreens in Delray Beach for $8M

Private equity firm sells Walgreens in Delray Beach for $8M
Randy Klein and Ocean Delray (Credit: LinkedIn)

Crestron CEO to pay $7.6M for Delray Beach condo

Crestron CEO to pay $7.6M for Delray Beach condo
arrow_forward_ios

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

Loading...