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| Babies 'R' Us Plaza, West Okeechobee Boulevard and Haverhill Road, West Palm Beach, FL |
West Palm Beach, FL – ICM Realty
Group, the international real estate investment and management firm, announced
today that it has purchased the Babies ‘R’ Us Plaza.
The 80,000 SF multi-tenant,
retail building is located on the corner of West Okeechobee Blvd and Haverhill Road in West Palm Beach FL.
As part of the purchase, ICM has
committed to completing significant capital improvements, including significant
exterior renovations, a new roof, signage and landscaping and upgraded building
systems to
be more energy efficient.
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| Bruce Timm |
In addition, ICM intends to
immediately commence an aggressive leasing campaign focused on adding new
retailers to the building’s already impressive tenant roster.
"We are happy to be
investing in a market that continues to demonstrate a dynamic resurgence in
leasing activity and one that we think is poised for strong growth,” said Bruce
Timm, ICM’s CEO. “This
investment signals our ongoing
commitment to the Southeast Florida market and to building ICM Realty Group’s
reputation as a world-class real estate investment manager.”
Babies ‘R’ Us Plaza is
strategically located along the highly utilized Okeechobee Blvd corridor
amongst numerous retail and hospitality amenities.
With frontage and access points
on both West Okeechobee Blvd and Haverhill Road, along with its direct access
to I-95, the building maintains superior accessibility and visibility.
With its ability to accommodate
a new user in excess of 13,000 SF, the building is poised to capitalize on the
recovering leasing market.
"We are very pleased to
have the opportunity to invest further in this market and are fortunate to have
purchased a building with such a high quality group of tenants and
individuals," said ICM Managing
Director Andrew Webb.
“Babies ‘R’ Us Plaza represents a unique opportunity for its
occupants to locate in a well located asset that will have all the traits and
amenities of a newly developed retail building.
The building’s central location
also allows companies to access multiple customer pools in order to attract and
retain shoppers from all areas of the West Palm Beach metro.”
ICM has partnered with Cohen
Commercial Realty for the property management and leasing of Babies ‘R’ Us
Plaza in order to deliver the best service possible.
Cohen is a West Palm Beach based
real estate
leasing and management company
with over 15 years of experience and over one million square feet of retail
space currently under management in Southeast Florida.
For a complete copy of the company’s news release, please
contact:
Andrew Webb
ICM Realty Group, LLC
7900 International Drive, Suite 150
Bloomington, MN 55425, USA
Tel: +1 952 883
3107
Email: awebb@icmgroup.net
Web: www.icmgroup.net
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