Jacksonville, FL-based Regency Centers LP, a large, national owner of neighborhood retail centers, sold the 109,937-sf shopping center. Tequesta Shoppes is set in an affluent area at 105 N. U.S. Highway 1 in north Palm Beach County.
The center, built in 1986, is 88% occupied. Tequesta Shoppes is anchored by a 39,795-sf Publix, whose sales significantly exceed the Publix chain average, and a 13,000-sf Beall's Outlet.
Steve Miskew, managing director of RJS Realty Group Inc., represented Regency Centers LP and was the only broker involved in the transaction.
Woolbright also owned Tequesta Shoppes in 1993 in partnership with the Sterling Cos. The partnership sold the center to Regency Centers in August 1998.
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