Benderson buys Publix-anchored Delray Beach shopping center for $9M

North Delray Commons was built in 2001

Miami /
Feb.February 05, 2021 04:30 PM
North Delray Commons at 455 & 555 Northeast 5th Avenue in Delray Beach (Photos via Google Maps)

North Delray Commons at 455 & 555 Northeast 5th Avenue in Delray Beach (Photos via Google Maps)

A Publix-anchored shopping center in Delray Beach sold for $9.4 million.

Records show North Delray (E&A) LLC, a South Carolina company, sold the two buildings at 555 and 455 Northeast 5th Avenue, called North Delray Commons, to 555 NDC LLC, a Florida corporation.

The selling entity links to national retail real estate owner, operator and developer Edens, which has regional headquarters in Columbia, South Carolina, as well as Atlanta, Boston, Dallas, Miami and Washington, D.C.

Jodie W. McLean, CEO of Edens, signed the document in favor of the South Carolina LLC. According to its website, Edens manages a portfolio of 125 locations.

The buying entity is managed by David G. Baldauf, Shaun Benderson and Stephen C. Scalione of Bradenton-based Benderson Development Co. Shaun Benderson is vice president, Baldauf is general counsel and Stephen C. Scalione is executive director of finance and operations, according to his Linkedin page.

Marcus & Millichap’s Kirk D. Olson and Drew A. Kristol represented both sides of the deal, according to a release.

North Delray Commons is a 34,087-square-foot shopping center with a Publix, UPS, AT&T store and a Jersey Mike’s Subs.

The shopping center spans 3.5 acres and was built in 2001.

Benderson has been an active buyer of former Toys “R” Us stores in South Florida. In September 2019, it purchased the Doral property of Toys “R” Us and Babies “R” Us for $5.3 million. In December 2018, Benderson paid $6.5 million for a former Toys “R” Us building in Palm Beach Gardens. The company also purchased a former Toys“R” Us in Plantation for $7.8 million.

Developers are targeting Delray Beach for new development. Among the planned projects is a new oceanfront boutique condo project planned for 2022.

This year, Kushner Companies is planning to buy two properties near Delray Beach for an industrial project, and Menin Development is redeveloping a Delray Beach shopping center into an apartment complex.






    Related Articles

    arrow_forward_ios
    U.S. Construction CEO John Farina and a rendering of 1625 South Ocean Boulevard
    U.S. Construction moves forward with boutique condo development in Delray Beach
    U.S. Construction moves forward with boutique condo development in Delray Beach
    344 North Ocean Boulevard with Kevin James (Getty, Elliman)
    “King of Queens” actor Kevin James returns to Delray Beach with $14M mansion buy
    “King of Queens” actor Kevin James returns to Delray Beach with $14M mansion buy
    Brookfield Property Partners CEO Brian Kingston, Dacra president and CEO Craig Robins and LVMH chairman and CEO Bernard Arnault with Miami Design District (DACRA, Getty)
    Here’s what some tenants are paying in the Miami Design District
    Here’s what some tenants are paying in the Miami Design District
    Matthew Sodl and 800 Seagate Drive, Delray Beach (Google Maps)
    Investment banker drops $5M on Delray Beach spec home
    Investment banker drops $5M on Delray Beach spec home
    Thor Chairman Joe Sitt, Stefano Ricci CEO Niccolo Ricci and the Miami store. (Getty, Thor, Miami Design District)
    Thor Equities sued over alleged unpaid loan on Stefano Ricci Miami Design District store
    Thor Equities sued over alleged unpaid loan on Stefano Ricci Miami Design District store
    President and CEO at Caron Treatment Centers Doug Tieman with the units. (Google Maps, LinkedIn via Doug Tieman)
    Addiction treatment center operator pays $12M for Delray Beach apartments
    Addiction treatment center operator pays $12M for Delray Beach apartments
    Miami City Ballet (City of Miami Beach, Google Maps, iStock)
    Workforce housing project approved for South Beach’s Collins Park
    Workforce housing project approved for South Beach’s Collins Park
    Laurent Morali and Charles Kushner (iStock)
    Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects
    Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects
    arrow_forward_ios

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

    Loading...