Principal Asset Management Sells 204,000-Square-Foot Shopping Center in Lake Worth, Florida

Lake Worth, Fla. — Principal Asset Management has sold Pinewood Square Shopping Center, a 204,000-square-foot retail center in Lake Worth, roughly 35 miles north of Fort Lauderdale. The property was 99 percent leased to 42 tenants at the time of sale. Retailers at the center include T.J. Maxx/HomeGoods, Ross Dress For Less, Five Below, Goodwill and Delray Medical Center. The property also includes six outparcel buildings that are leased to Chase Bank, PNC Bank, Autozone, Outback Steakhouse, La Granja and Jiffy Lube. Mark Gilbert, Adam Feinstein and Mitch Halpern of Cushman & Wakefield represented the seller, Principal Asset Management, in the transaction.