The properties consisted of Linton Center, a three-building, 84,819-sf office complex located at 1808-1845 S. Federal Hwy. at the southeast corner of Federal Highway and Linton Boulevard; a 13,443-sf office building occupied by the Florida State Department of Corrections at 155-189 SE 3rd Ave.; Palm Plaza, a 9,009-sf office and retail building at 1112-1118 E. Atlantic Ave.; and Sand & Sea Building, a 1,300-sf office and retail building at 1214-1216 E. Atlantic Ave.
RJS Realty Group managing director Steve Miskew and senior investment consultant Mack Gaither were the sole brokers in the transaction. "The seller acquired the properties over the years and felt it was an appropriate time to sell," Gaither tells GlobeSt.com.
Gaither says the properties are significantly located. "This is an exceptional portfolio of properties situated in some of the most prominent locations in Delray Beach. Each possesses unique upside opportunity in this highly acclaimed market," Gaither explains.
Gaither says the buyer has no immediate plans for the properties but that Linton Center, which is fully leased, has potential for development in the future. "It's located at a busy intersection and it's a substantially underused site with only 84,000 sf on 10 acres."
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