Palm Beach County Retail Center Hits the Market at $21 Million

HSBC Plaza, Boca Raton, FL

BOCA RATON, FL  – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has been awarded the exclusive listing to market for sale HSBC Plaza, a 45,730-square-foot retail center in Boca Raton, Fla. The listing price is $21,000,000.

Douglas K. Mandel

            Douglas K. Mandel, a first vice president investments, and C. Todd Everett, SIOR, a senior associate, both in Marcus & Millichap’s Fort Lauderdale office, are representing the seller, the center’s developer.

            “This is an opportunity to acquire a high-quality center with a diversified tenant base and strong in-place cash flow,” says Mandel.

“HSBC Plaza is surrounded by affluent residential communities,” adds Everett.

The property is located at 19120 South State Road 7 on the southeast corner of State Road 7/ U.S. Route 441 and Yamato Road, two major Boca Raton thoroughfares.

C. Todd Everett

Traffic counts at the intersection are in excess of 63,000 vehicles per day and more than 150,000 people reside within a five-mile radius. Two upscale shopping destinations, the Boca Town Center Mall, a super-regional shopping center and Mizner Park, a lifestyle center, are nearby.

The location is within a 30-minute drive of downtown Palm Beach, the Palm Beach International Airport, downtown Fort Lauderdale and the Fort Lauderdale International Airport.

HSBC Plaza is 95 percent leased to a variety of local, regional and national tenants, including MedExpress, Dunkin’ Donuts, a 15,560-square-foot CVS outparcel and a 4,000-square-foot HSBC Bank branch outparcel.

The property has been well maintained with little to no deferred maintenance.

For a complete copy of the company’s news release, please contact:

Gina Relva

Public Relations Manager

(925) 953-1716