Lake Worth, Fla. — Continental Realty Corp. (CRC) has acquired The Shoppes at Sherbrooke, a 57,901-square-foot, LA Fitness-anchored shopping center located 15 miles from downtown West Palm Beach in Lake Worth. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented the undisclosed seller in the $11.3 million deal. The Shoppes at Sherbrooke was purchased via Continental Realty Fund V LP, a $210.8 million private equity fund focused on acquiring value-add retail and multifamily properties in the Mid-Atlantic and Southeast regions. The eight-acre site includes a nearly one-acre undeveloped land parcel.
CRC Acquires LA Fitness-Anchored Shopping Center in Palm Beach County for $11.3 Million