The property, located at 2400 N. University Drive, was about 87% leased at the time of the sale. Capriccio, a well-known Italian restaurant that has been located in the plaza since it was built, is the center's main tenant.

Dave Donnellan, first vice president, and William Strauss, senior associate, both with the Palm Beach County office of CB Richard Ellis Inc., represented both PJB Management Inc. and Capriccio Plaza LLC in the transaction. The center is an investment for the buyer, Strauss tells GlobeSt.com. PJB Management is "just looking to buy a replacement property closer to where their offices are in Palm Beach County.

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