Whole Foods plans to open a store as part of a development called the Boynton Beach Marketplace at Boynton Beach Boulevard and Hagen Ranch Road. Rendering provided
By Christine Davis
Good news for Whole Foods fans in Boynton Beach. A store will soon be available closer to home.
SJC Ventures, a grocery-anchored retail and multifamily development firm based in Atlanta, recently signed a new lease with Whole Foods Market, which will be in the Boynton Beach Marketplace, 7499 W. Boynton Beach Blvd.
Other expected tenants once the center is complete include sit-down restaurants, fast casual eateries, service establishments and boutique fitness options.
“This will be a fantastic addition to the Boynton Beach area and we are thrilled to bring a tenant such as Whole Foods Market to the community,” said Jeff Garrison, principal at SJC Ventures. “Our firm seeks to find regional sites that fit the demographic of specialty grocery stores like Whole Foods Market, and Boynton Beach certainly matches that.”
An opening date has not been announced.
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South Florida-based real estate investment management group Grover Corlew announced that it has acquired the Palmetto Park City Center office building, 120 E. Palmetto Park Road in Boca Raton, for $25.2 million.
The sale was recorded on March 9. Palmetto Park City Center is adjacent to another commercial property, the Bank of America Tower, which Grover Corlew acquired in July 2021.
“We have been making continuous investments in Boca Raton since 2016, when we originally purchased 1499 W. Palmetto Park Road and subsequently purchased the adjacent 1489 building,” partner Mark Corlew said in a news release. “Our headquarters are here, and we’re raising our children here. We see these two properties as an ideal opportunity to invest in our hometown.”
Partner Anuj Grover added: “This is a strategic move for us as we continue to set our sights on underrealized areas of South Florida.”
A Cushman & Wakefield team led by Dominic Montazemi and Scott O’Donnell brokered the latest transaction. According to public records, $21.85 million in financing for the deal was provided by Wells Fargo Bank.
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California-based Brickstar Capital bought Spanish River Plaza, 500 NE Spanish River Blvd., Boca Raton, in a transaction totaling $12.6 million recorded Feb. 25. The seller, Chart Organization, a real estate investment and management company based in Lynbrook, New York, paid $8.1 million for the two-building plaza in 2015.
Mark M. Rubin and Bastian Laggerbauer of Colliers | South Florida Investment Services Team represented both sides in the deal.
Brickstar’s intent was to buy the plaza “as an investment, re-tenant it 100%, and when the time is right, reposition the site as a redevelopment opportunity,” Laggerbauer said.
Sited on 4.5 acres, the buildings were completed in 1974. Spanish River Plaza is 14% vacant, according to Laggerbauer, who added that tenants include Ascend Properties, IntensityX3 Fitness & Kickboxing, Mane Coffee and Dunetz Wellness Center.
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The Delray Beach Housing Authority, partnering with Smith & Henzy Advisory Group, received approval from the Site Plan Review and Appearance Board for their Island Cove project. It includes 60 affordable-housing buildings and a clubhouse.
The site, which has been vacant for more than 10 years, is between Southwest Eighth and 10th streets and Southwest 12th and 13th avenues.
The Delray Beach Community Redevelopment Agency is contributing $1 million, in the form of a grant, toward the $27 million project.
“Rents for the 40 two-bedroom/two-bathroom and 20 three-bedroom/two-bathroom apartments are expected to range between $500 and $1,800 a month,” said Shirley Erazo, CEO of the Housing Authority.
“The units in Island Cove will be set aside for residents earning between 30% to 80% of the area median income. This phase of the redevelopment will focus on community heroes: firefighters, teachers, law enforcement officers, nurses and other members of the essential workforce.”
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Here’s some big (as in price and size) news in single-family home sales:
Paul Saunders, founder of the Virginia-based James River Capital Corp., and his wife, Victoria Saunders, paid $34.7 million for the oceanfront estate at 2445 S. Ocean Blvd., Highland Beach. The sale, recorded Feb. 22, represented a record high price for the town.
The home was owned by the late Mark Hamister, who had paid $12.5 million for the property in 2014.
The 16,582-square-foot house, situated on 1.1 acres, has seven bedrooms, a 14-car garage and 120 feet of beach frontage, according to realtor.com. Features include a full wing guest suite, screening room and a club room wing with a six-bay auto museum.
The property was listed for $42 million in November 2021. Joseph Liguori, Carmen D’Angelo Jr. and Gerard Liguori of Premier Estate Properties represented Hamister’s estate in the recent deal. Marcy Javor of Signature One Luxury Estates represented the Saunderses.
Gerard Liguori said an estate at 3715 S. Ocean previously held the record for Highland Beach. Public records show that it sold for $29.5 million in late 2021.
“We’ve just returned from a conference, and there’s a sense of uncertainty with inflation and the stock market, and what’s happening in Ukraine, and people are going into hard assets such as real estate,” Gerard Liguori said.
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Speaking of Premier Estate Properties, the firm has represented properties exclusively in excess of $1 million for 28 years, and it has paid off. The 2021 rankings by T3 Sixty Almanac, an independent report that analyzes and quantifies top real estate companies in the United States, put Premier Estate Properties No. 1 for highest sales volume per agent, No. 2 as the brokerage achieving the highest sales price, and No. 225 among the Mega 1,000 top brokerages.
Additionally, Premier garnered $4.9 billion in sales and new listings over 12 months, all with only 42 agents.
“The reason we earn market dominance year after year is that our agents function as trusted advisers to our high-net-worth clientele,” says Gerard Liguori, one of the broker/owners at Premier. “We have the in-depth knowledge of these communities and of the market to enable us to skillfully tailor the buying or selling experience to each client’s needs.”
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3545 North Ocean Trust, managed by Palm Beach attorney Guy Rabideau, bought the 14,000-square-foot mansion at 3545 N. Ocean Blvd., Gulf Stream, for $33 million in a sale recorded March 3. Built in 1958, the five-bedroom mansion rests on a 1.96-acre lot with 230 feet of ocean frontage. The seller of the property, Gulf Stream Ocean Properties FL, is a Florida limited liability company managed by Gary Clinton Scheier, who paid $14.25 million for the property in 2018.
Candace and Phillip Friis, agents with the Corcoran Group, represented the buyer and seller, according to realtor.com. The property was listed for $34 million one day prior to the sale.
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Lang Realty, through its community outreach arm Lang Cares, is leading a month-long diaper drive in April to benefit several South Florida charities through The Diaper Bank, Covering South Florida.
Diapers can be dropped off at these Lang offices in South County: 4400 N. Federal Highway, Suite 100, Boca Raton; 9858 Clint Moore Rd., Suite C-124, Boca Raton; 2901 Clint Moore Rd., Suite 9, Boca Raton; 8855 Boynton Beach Blvd., Suite 340, Boynton Beach; 3700 Clubhouse Lane, Boynton Beach; 900 E. Atlantic Avenue, Suite 16B, Delray Beach.
Donate via Amazon at https://smile.amazon.com/registries/custom/3GK2RJJINGME/guest-view.
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The Boynton Beach City Library has received a grant of $93,084 that will fund “Technology Training for Entrepreneurs and Career Advancement.”
This grant is funded under provisions of the American Rescue Plan Act from the Institute of Museum and Library Services.
The money will be used for a mobile laptop cart with 24 laptops, a printer, a projector and a full-time professional trainer to teach classes for library cardholders.
Classes cover topics such as basic computer literacy, Microsoft Office products, Adobe Photoshop Elements, QuickBooks, creating art with software, job-interview preparation, and résumés.
Classes are posted on www.boynton-beach.org/city-library in the Library Program Calendar. For more information or questions about obtaining a card, call 561-742-6390.
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The Schmidt Boca Raton History Museum hosts “The Future Began Here/The Future is Here,” a talk about the Boca Raton Innovation Campus, which will be held at the museum at 6 p.m. April 7.
What began as a location for IBM’s research and development is now a 1.7 million-square-foot office park known as the Boca Raton Innovation Campus, home to 18 national and 19 regional office tenants with up to 6,000 employees. Boca-based CP Group acquired the office park in 2018.
As part of the program, CP Group managing partner Angelo Bianco will share IBM anecdotes as well as the firm’s progress toward transforming BRiC with amenities that include a food hall, STEAM lab, and presentation space.
Before and after the session, attendees can visit the museum’s IBM Gallery. The cost is free for museum members and $10 for nonmembers. To RSVP, email office@bocahistory.org or call 561-395-6766, ext. 100. The museum is at 71 N. Federal Highway.
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The YMCA of South Palm Beach County’s drowning prevention program was chosen by the USA Swimming Foundation to receive $4,000 in grant money toward providing free or reduced-cost swim lessons. The foundation vetted more than 250 applications and chose 102 youth and 40 adult programs to receive funding. For more information, visit www.ymcaspbc.org.
Send business news to Christine Davis at cdavis9797@gmail.com.
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