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
    Movers & Shakers: Newmark lodging group co-head moves to Miami
    Movers & Shakers: Newmark lodging group co-head moves to Miami
    Movers & Shakers: Newmark lodging group co-head moves to Miami
    (City of Pompano Beach)
    From Macy’s to multifamily: Apartments planned for former department store site at Pompano Beach shopping center
    From Macy’s to multifamily: Apartments planned for former department store site at Pompano Beach shopping center
    Crow Holdings pays $33M for Coral Springs’ Turtle Crossing
    Crow Holdings pays $33M for Coral Springs’ Turtle Crossing
    Crow Holdings pays $33M for Coral Springs’ Turtle Crossing
    Pompano Beach mixed-use project scores $45M construction loan
    Pompano Beach mixed-use project scores $45M construction loan
    Pompano Beach mixed-use project scores $45M construction loan
    Lease roundup: Miami Worldcenter, Town Center at Boca Raton score new retailers
    Lease roundup: Miami Worldcenter, Town Center at Boca Raton score new retailers
    Lease roundup: Miami Worldcenter, Town Center at Boca Raton score new retailers
    Healthcare investor buys lakefront mansion west of Delray Beach for $17M
    Healthcare investor buys lakefront mansion west of Delray Beach for $17M
    Healthcare investor buys lakefront mansion west of Delray Beach for $17M
    South Florida retail rents surpass pre-pandemic pricing in Q3
    South Florida retail rents surpass pre-pandemic pricing in Q3
    South Florida retail rents surpass pre-pandemic pricing in Q3
    Lease roundup: Main Las Olas scores 21K sf of leases, shipping container firm opens Miami HQ
    Lease roundup: Main Las Olas scores 21K sf of leases, shipping container firm opens Miami HQ
    Lease roundup: Main Las Olas scores 21K sf of leases, shipping container firm opens Miami HQ
    arrow_forward_ios

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

    Loading...