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| LA Fitness Plaza Shopping Center, Palm Beach Gardens, FL |
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| Daniel Finkle |
MIAMI, FL –– Holliday
Fenoglio Fowler, L.P. (HFF) announces the $25 million sale of LA Fitness Plaza, a
105,453-square-foot, fitness- and food-anchored community shopping center in
the South Florida community of Palm Beach Gardens.
The HFF team marketed the
property on behalf of the seller, Barings Real Estate Advisers on behalf of an
institutional investor. Fondo Atlas
purchased the retail center free and clear of financing.
“LA Fitness Plaza
performed well and delivered attractive returns for our client during our
ownership period,” said Dave Romano,
managing director at Barings Real Estate Advisers. “The HFF team did an excellent job marketing
the property for sale, and we wish Fondo Atlas much success with the property
going forward.”
Situated on 14.02 acres at
7100 Fairway Drive, the center is at the entrance to PGA National Resort &
Spa and has exposure from approximately 120,000 vehicles per day from its
high-trafficked location at the intersection of PGA Boulevard and Fairway
Drive, along with 1,000 feet of frontage on Florida’s Turnpike.
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| Kim Flores |
The HFF team that represented the seller
included senior managing director and co-head of HFF’s retail practice Daniel Finkle, managing director Luis Castillo, director Eric Williams and senior associate Kim Flores.
“There continues to be
strong investor demand for high-quality fitness-anchored shopping centers, and
LA Fitness Plaza was no exception,” Castillo said.
For more information on this press release, please
contact:
Kristen Murphy
Director, Public Relations
One Post Office Square Suite 3500
Boston, Massachusetts 02109
T: 617-848-1572 M: 617-543-4873
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