Palm Beach Gardens, Florida - The NNN Florida property news this afternoon is on a new Retail Shopping Center breaking ground and a 4 year old Retail Shopping Center being sold in Florida. Starting out in Ocala, Florida, we want to report that Deerfield Beach-based SIKON Construction broke ground for the new Publix-anchored retail shopping Center. This retail shopping center will be known as Park View Commons and is being constructed under a $7 million contract with KSH Parkview Commons, LLC.
The Deerfield Beach-based SIKON Construction broke ground recently. This will a new 70,599-square-foot Publix-anchored retail shopping center. This Florida NNN Property will be designed by api(+), Tampa. The Company api(+) works with an intense motivation to help build business and customer awareness and satisfaction for the long term. The Company api(+) completes this through strategically focused retail design that is visually exciting and distinctive.
This Florida NNN Property sits on a 16.8-acre net lease site and will include a new 45,600-square-foot Publix Super Market. This Florida NNN Property will also have approximately 25,112 square feet of additional retail space, and should be finished by November of 2011.
We also have Florida NNN Property news from Boynton Beach, Florida in Palm Beach County. The Retail Power Center, Boynton Town Center has recently sold. The Net Leased Property, Boynton Town Center is located at the northeast corner of N. Congress Avenue and Old Boynton Road. This NNN Florida Property sits in the heart of the Boynton Beach's commercial zoned retail district. The Florida NNN Property consists of a wide range of business including restaurants, retail, office and service oriented net lease tenants. This Florida NNN Property is currently about 92% leased.
The St. Petersburg-based commercial real estate developer Sembler Company sold the Boynton Town Center. The Florida NNN Property has SuperTarget, Best Buy, Total Wine & More and Michaels anchoring the center, but this transaction did not include the large SuperTarget store. The SuperTarget building is owned by Target Corp. and therefore not involved in this net lease property sale. We are not aware if this net leased property was involved in a 1031 Exchange.
The net leased property sold for $59 million. The Net Leased Property Seller was an affiliate of the Sembler Company. The Sembler Company has developed many architecturally beautiful retail shopping centers. The NNN commercial real estate development company has received a variety of awards.
The net leased property buyer was Morguard Investments. This net leased property buyer is currently based in Canada. The Retail Power Center had some of the net lease tenants opened their doors in 2007. The Net Leased Property is anchored by excellent Tenants, including SuperTarget, Best Buy and Michael's. Michaels took over approximately 23,407 square feet in this net leased property, opened late in 2009. Boynton Town Center is at the prime address of 1000 North Congress Avenue in
Boynton Beach, with the 33426 zip code.
This Florida NNN Property, Boynton Town Center is a recently developed, high quality retail power center. As we see Land which can be developed, becoming very scarce in South Florida, this will be one of the last retail net lease properties developed in this area of Palm Beach County.
We see Investors looking for Net Lease Properties to sell net lease properties,and purchase NNN Property or for 1031 exchange replacement properties. There are listings available at Commercial Property For Sale in Florida if you are ready to buy or sell. .
We recommend NNN Florida Investors use financing specialists from Loanrise.com for CTL Financing and Commercial Loans.
