BOCA RATON, FL-Palms Plaza, a 68,976-square-foot shopping center in the heart of affluent Boca, traded for $18.5 million. Florida-based North American Development Group scooped up the retail asset from Greensboro, NC-based Bell Partners.

CB Richard Ellis’ National Retail Investment Group represented Bell Partners in the transaction. CBRE senior vice presidents Casey Rosen and Dennis Carson, along with first vice president Nikolas Kozy brokered the deal.

“NADG was interested in established, high quality real estate and a property with growth potential,” Rosen said in a statement. “Palms Plaza has an excellent in-fill location and a long history of successful operations. The property benefits from nearby offices and cross-shopping customers visiting the adjacent Garden Shops at which Publix recently expanded.”