1/14/2008

NAI orchestrates $10M sale of Florida retail center

by
Tequesta Investors L.P. has purchased the Village Square retail center in Tequesta, Fla., for $10.3 million and plans to invest $1 million in renovations.

The deal was brokered by NAI/Merin Hunter Codman on behalf of Tequesta Investors.

The 71,000 square foot shopping center is located at 281 North U.S. 1 and is currently 80 percent occupied to tenants such as Village Bootery and Blockbuster. The buyer plans a $1 million renovation that will include a renewed façade and roof, landscaping beautification, renewed parking lot and new signage.

Tequesta is located 25 miles north of Palm Beach and has a population of just under 6,000.

Address: 281 North U.S. 1, Tequesta, Fla.

Size: 71,000 square feet

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Filed Under: Retail

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