LANTANA, FLA. — Miami-based Integra Investments has purchased Lantana Village Square, a 165,000-square-foot shopping center located at 1001 S. Dixie Highway in Lantana, a town in South Florida’s Palm Beach County. The buyer plans to raze the center’s vacant K-Mart department store and develop workforce housing that is affordable for Lantana renters. The overall development is situated on a 19-acre site within one mile of South Palm Beach.
Lantana Village Square’s existing retailers such as Winn-Dixie, Subway and H&R Block will remain, which will create a mixed-use community once the workforce housing component is complete. Integra is utilizing the State of Florida’s Live Local Act to help fund the development. Integra acquired Lantana Village Square from Saglo Development for $14.9 million. Bradesco Bank provided acquisition financing.