Value-Add Retail Center for Sale in South Florida

Wednesday, September 19, 2018

Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is marketing the Village Shoppes II on 441 for sale in the Palm Beach County community of Royal Palm Beach, Florida. The 44,032-square-foot retail center represents a rare, deep, value-add retail investment opportunity in an infill location in one of South Florida’s most highly coveted retail submarkets.  

Situated on 2.1 acres at 10477 Southern Boulevard, the retail center for sale is home to nine retailers, including Asian Fusion Buffet, Weight Watchers and Gold Coast Federal Credit Union, and is shadow anchored by Burlington, Planet Fitness, Ollie's Bargain Outlet and the U.S. Postal Office.

Palm Beach County Retail Property for Sale Investment Highlights

  • Tremendous Value-Add Potential:  Village Shoppes II on 441 offers significant value enhancement potential through the lease-up of 22,986 square feet of available space (or 52.2 percent of the total GLA) and the mark-to-market of existing below market rents.
  • Prominent, High-Traffic Location:   The retail center for sale is situated at the high-traffic intersection of Southern Boulevard and State Road 7/US Highway 441, the two primary thoroughfares serving the trade area, which boasts impressive traffic counts of more than 125,000 vehicles per day.
  • Outstanding Demographic Profile:  The retail property’s trade-area demographics rival that of South Florida’s top retail submarkets with an ideal combination of population density, population growth and affluence. There are 186,183 residents with an average household income of $94,469 within a five-mile radius ($6 billion in trade area buying power). Furthermore, the trade area population is projected grow an additional ±nine percent over the next five years.
  • Proven Retail Submarket with Strong Surrounding Co-Tenancy:  The Wellington/Royal Palm Beach retail submarket is among the healthiest and strongest-performing submarkets in South Florida with overall occupancy rate of 96 percent. Village Shoppes II on 441 benefits from its location at a dominant regional retail intersection with a strong national tenant presence, including Lowe’s Home Improvement, Home Depot, Ross Dress for Less, Buy Buy Baby, Bed Bath & Beyond, BJ’s Wholesale Club, Hobby Lobby, Famous Footwear, Five Below and PetSmart.

Village Shoppes II on 441 offers investors a value-add retail property for sale in an affluent, infill area in Palm Beach County. For more information on this commercial real estate listing or other South Florida retail properties for sale, please contact Danny FinkleLuis Castillo or Eric Williams in HFF’s Miami office.

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