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154,000-SF Catalina Centre Sells for $19.2M

BOYNTON BEACH, FL-A partnership controlled by Roberts Equities Inc. of New York has purchased the 154,000-sf, 98% occupied retail property here from Investcorp of New York for approximately $125 per sf.

By Melissa Bogdany | Updated on January 07, 2003

BOYNTON BEACH, FL-A partnership controlled by Roberts Equities Inc. of New York has acquired its second South Florida property in recent months with the purchase of the Catalina Centre here from Investcorp, based in New York, for more than $19.2 million, or about $125 per sf.

The 154,000-sf Catalina Centre retail property is anchored by Best Buy, Marshalls and Rag Shop, as well as national restaurants such as Macaroni Grill and Boston Market. The one-story property is approximately 98% occupied.

The property is a “very well-located, high-sales volume center [with a] good mix of national, regional and local tenants and high occupancy levels,” Gary Broidis, principal and broker with Boca Raton-based Atlantic Commercial Group Inc., tells GlobeSt.com. Broidis represented the buyers in the recent transaction.

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