Investcorp sold two Florida retail centers–Plaza at Delray, located in Boca Raton, and Mission Bay Plaza, located in Delray Beach–in deals totaling 606,480 square feet.

Terms of the two transactions were not disclosed.

Plaza at Delray is a class A property originally built in 1979 as an enclosed mall. The property was significantly redeveloped in 1997/1998 into a modern, open-air retail center that now has 333,566 square feet within a 35.7-acre site. Investcorp originally acquired Plaza at Delray in August 2003. The center is anchored by five well-known tenants: Publix, Regal Cinemas, Linens ‘N Things, Marshall’s, and Staples. Other important tenants include Eckerd’s and Denny’s.

Mission Bay Plaza is a 272,914-square-foot, class A property located on 24.5 acres that Investcorp originally acquired in April 2003. The property was constructed in 1989 and is situated in western Boca Raton near major highway intersections. The four anchor tenants include Albertsons, Toys ‘R Us, LA Fitness and Office Max. The center’s strong outparcel tenants include Bank of America, Mobil Oil and Washington Mutual.

Cushman & Wakefield represented Investcorp in the sale of both assets.

Investcorp’s New York-based team of real estate professionals focuses on high-quality existing commercial, hotel and residential properties.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×