An assortment of businesses, including beauty salons, jewelry and clothing stores, and restaurants offer a variety of goods and services at the Plaza del Mar shopping plaza, 201 S. Ocean Blvd. in Manalapan. Photos by Jerry Lower/The Coastal Star
By John Pacenti
Tenants say they have been informed that Manalpan’s shopping center, Plaza del Mar, is being sold.
Rumors had been rampant for weeks of the sale of the 102,000-square-foot property across from the Eau Palm Beach Resort & Spa. Opened in 1982, the plaza is known for its upscale shops, unique dining and the closest Publix for residents along the coast.
An owner of a restaurant and an owner of a boutique said they have been told the buyers are K&K Developers. No official record of the sale has been recorded with the Palm Beach County Clerk & Comptroller’s Office as of Wednesday, and no additional information was known about the buyer.
The property is owned by the investment entity MSKP Plaza del Mar and managed by Kitson & Partners. Kitson did not return phone calls for comment. MSKP Plaza del Mar bought the property in 2006 for $37.7 million, according to property records.
The Palm Beach Property Appraiser's Office lists its 2024 market value at $20.4 million.
Plaza del Mar with the Atlantic Ocean and the Eau Palm Beach Resort & Spa at top, and Ocean Avenue on the left. Photo provided by Katz and Associates
Jeannie Drummond, owner of Jeannie's Ocean Boutique, said she had been asked to sign documents on Dec. 17 “just confirming how many years our lease is, etc., etc. Just insignificant questions.”
A veteran retailer, Drummond has been in the plaza for a decade.
She had also heard the rumor last month that billionaire Larry Ellison, who bought the Eau in August for $277 million and an estate in town in June 2022 for a state-record $173 million, was looking to purchase the plaza. However, the tenants — who spoke on and off the record — say they don’t believe K&K Developers is tied to Ellison.
There is a lot of uncertainty among tenants. “I think they are probably going to tear it down,” Drummond speculated. “I don't know what's going to happen. No idea. We'll just sit tight and they’ll let us know eventually, I guess.”
Publix, the large anchor store in the Plaza del Mar shopping plaza, opened in 2018.
The plaza is an integral part of the surrounding community. Without the Publix, nearby residents along the coast would need to go over the bridge to Lantana Road for groceries. There is a Chabbad. Evelyn & Arthur, a women's clothing retailer, holds charity events in the store as well as a fashion event across Ocean Avenue for residents in memory care at The Carlisle.
Fran and Ed Guzile were enjoying eggs at John G’s Restaurant at the plaza on Wednesday. “There is a lot of nice retail here,” Fran Guzile said. “People can walk here for their groceries.”
“The Jewish community, because they have to walk to the shul, you see them walking through here,” Ed Guzile added.
On the other side of the plaza sits Hedy McDonald’s Art Basil Restaurant. She also heard the buyers are K&K Developers and is an optimist.
“The idea of somebody that buys the plaza and wants to be a little more involved is extremely exciting. We'd be building for the next thing,” she said.
There are currently two retail locations being offered for rent at Plaza del Mar.
The plaza was built on submerged lands and has tension cables in its foundation, she said. McDonald learned this when a plumber refused to do work in her restaurant out of fear of snapping one of the cables.
She noted that there is also easy access to Manalpan, South Palm Beach, Ocean Ridge and Boynton Beach from the plaza.
A friend of McDonald in Palm Beach was considering buying the property but said it was out of his price range.
“He's like, it’s because that piece of dirt is awesome. There's nothing like it around,” McDonald said. “It’s basically a plaza on the beach.”
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