Marcus & Millichap Brokers $28.8 Million Sale of Delray Beach Shopping Center Anchored by Michaels and CVS

Reuters

2025/07/15

Marcus & Millichap Brokers $28.8 Million Sale of Delray Beach Shopping Center Anchored by Michaels and CVS

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.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Marcus & Millichap Inc. published the original content used to generate this news brief on July 14, 2025, and is solely responsible for the information contained therein.

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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 <a href=\"https://laohu8.com/S/ASAQ\">Atlantic Avenue</a>, 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 &amp; Millichap's Douglas <a href=\"https://laohu8.com/S/TKKD.SI\">K</a>. Mandel and Zach Levine represented the seller, Berta Management, and secured the buyer, O'Connor Capital Partners.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Marcus &amp; Millichap Inc. published the original content used to generate this news brief on July 14, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0823411888.USD","symbol_name":"法巴消費創新基金 Cap","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250714:nNDL7RdsQL:1","article_id":"2551913522","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2551913522","pubTimestamp":1752524690,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"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. 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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.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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