TH Real Estate Nabs Miami-Area Retail AssetBy
The purchase of the Promenade Shopping Center in Palm Beach Gardens, Fla., marks the first acquisition for the company’s newly opened Miami office.
The company has acquired the Promenade Shopping Plaza, a 202,696-square-foot retail center in Palm Beach Gardens, Fla. The buyer is an affiliate of Nuveen, the investment management arm of TIAA.
Public records show that an affiliate of Dallas-based Lone Star Funds sold the property for approximately $49.3 million. The 97 percent occupied retail center is anchored by Publix, CVS, Bealls Outlet and Planet Fitness. Completed in 1972, the Promenade Shopping Plaza underwent redevelopment in 2015…
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