JLL Arranges $39.5M Sale of Shopping Center in South Florida
ROYAL PALM BEACH, FLA. — JLL has arranged the $39.5 million sale of Coral Sky Plaza, a 232,727-square-foot retail center in Royal Palm Beach. BJ’s Wholesale Club anchors the property, which was 96 percent leased at the time of sale to tenants including Ross Dress for Less, buybuy Baby, Bed Bath & Beyond, Five Below, IHOP and Famous Footwear. The property is located at 510-590 State Road 7, 11 miles west of downtown West Palm Beach. The seller was not disclosed, although multiple media outlets report Claion Partners sold the property. Danny Finkle, Luis Castillo and Eric Williams of JLL represented the seller in the transaction. Additionally, Chris Drew, Maxx Carney, Jesse Wright and Reid Carleton of JLL arranged a $26.1 million acquisition loan through Morgan Stanley Bank on behalf of the buyer, which was also not disclosed, but media outlets report it was Coral Sky Plaza LLC, managed by Kenneth R. Silverman in Key West.