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CBRE: Market for B/C Retail Heating Up

PALM BEACH, FL—CBRE is seeing more class B and class C retail trading and points to a recent North Palm Beach trade as an example of the trend.

By Jennifer LeClaire | Updated on November 25, 2013

PALM BEACH, FL—In a deal that CBRE illustrates a growing trend toward class B retail acquisitions, the Village Square Plaza, a 24,000-square-foot unanchored multi-tenant retail center in North Palm Beach, has traded hands. The retail strip is located at 420 US Highway 1 in North Palm Beach.

The buyer, ICV NPB, LLC, purchased the property for $1.9 million from Village Square Plaza, Inc. and Peter A. Hotchkiss, as trustee, a Florida-based private investor. David Donnellan and Todd Weintraub of CBRE managed the sale represented the seller.

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