Redfearn Capital paid $39.2 million for a 23,290 square foot retail and restaurant in Delray Beach. DHBH was the seller. The price comes out to $1,640 a square foot, one of the highest prices paid for a retail property in the area, according to Cushman & Wakefield, who brokered the deal.
Cushman & Wakefield’s Mike Ciadella, Scott O’Donnell and Miguel Alcivar, along with Katalyst Real Estate’s Don Ginsburg and Adam Steinlauf, represented the seller. Cushman and Wakefield’s Florida EDSF Team, Ron Granite and Jason Hochman, represented Redfearn Capital in securing financing for the acquisition.
“This acquisition gives us control of a landmark asset in one of South Florida’s most vibrant and supply constrained downtown markets,” said Alex Redfearn of Redfearn Capital.
The properties at 105 and 111 E. Atlantic Ave. are anchored by a diversified tenant roster spanning established restaurant operators, office users, and on-site parking. The retail buildings were constructed in 1952 and 1971 on a 0.38-acre lot.
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