Boynton Beach, FL
CBRE Announces Sale of Multi-Tenant Retail Center in Boynton Beach, Florida
May 4, 2022
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CBRE facilitated the sale of Paz Plaza, a multi-tenant retail shopping center in Boynton Beach, Fla., to Paz Plaza BB, LLC, a Florida-based entity managed by Johnny Wizman.
David Donnellan and Patricia Friend with CBRE represented the seller, Paz Plaza, Inc., a Florida-based entity managed by Pedro Diaz, in the transaction.
The 14,400-square-foot property is located at 3301 West Boynton Beach Boulevard. At the time of sale, Paz Plaza was fully occupied by 10 retail tenants.
“This property is extremely well-located in the heart of the Boynton Beach retail concentration, just west of the intersection of Congress Avenue and Boynton Beach Boulevard,” said Mr. Donnellan, a Senior Vice President at CBRE. “The property offers substantial upside potential as the current rent roll is below market rental rates.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.