PALM BEACH, FL—HSBC Plaza, a 46,000-square-foot retail shopping center in Boca Raton, FL, has traded hands. The retail plaza sold for $19 million, or $415 per square foot.

HSBC Plaza is 95% leased to a mix of local, regional, and national tenants including Med Express and Dunkin Donuts. The retail site includes a freestanding CVS pharmacy and an HSBC Bank branch outparcel.

Douglas K. Mandel, a first vice president investments, and C. Todd Everett, a senior associate, both in Marcus & Millichap's Fort Lauderdale office, represented the seller, the property's developer. Mandel and Everett also advised the buyer.

"HSBC Plaza is a high-quality asset with a diversified tenant base and strong in-place cash flow in a prime west Boca Raton location that is supported by strong demographics," Mandel tells GlobeSt.com. The retail property is located at 19120 South State Road 7 on the southeast corner of State Road 7—U.S. Highway 441—and Yamato Road near the Florida Turnpike and Interstate 95. The location is close to an upscale super-regional shopping center, Boca Town Center Mall, and an upscale lifestyle center, Mizner Park.