Inland acquired the 17-year-old, 109,937-sf Tequesta Shoppes Plaza from Woolbright Tequesta Ltd. of Boynton Beach, FL for $11.48 million or $104.42 per sf. A 39,795-sf Publix Supermarket anchors the property which is about 10 miles north of West Palm Beach . Tequesta has an estimated permanent population of 6,000.
Other major tenants are Bealls Outlet, 13,000 sf; Tuesday Morning restaurant, 8,508 sf; and Dollar Tree, 4,673 sf. The property is undergoing major tenant improvements, says Steve Sanders, senior vice president, Inland Real Estate Acquisitions Inc.
Sanders and outside counsel Charles Benvenuto represented Inland at closing. Duane Siller, president of Woolbright Development, and Palm Beach County lawyer Peter Holton negotiated for the seller.
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