Marcus & Millichap Inc. recently brokered the sale of Delray Corner, an 86,000-square-foot shopping center in Delray Beach, Florida, for $28.8 million. Anchored by Michaels and CVS, the center boasts over 96% occupancy with tenants on triple-net leases and an average lease term of over eight years, offering the buyer stable cash flow. Located at the bustling intersection of Military Trail and Atlantic Avenue, the property benefits from strong visibility and accessibility. Originally built in 1981, Delray Corner underwent significant renovations in 2023, adding notable tenants such as Starbucks. Marcus & Millichap's Douglas K. Mandel and Zach Levine represented the seller, Berta Management, and secured the buyer, O'Connor Capital Partners.
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