IPA Arranges $23.6 Million Sale of Kohl’s-Anchored Retail Center in West Palm Beach

by Alex Tostado

West Palm Beach, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $23.6 million sale of The Shoppes at Southern Palms, a 200,888-square-foot retail center in West Palm Beach. The center was fully leased at the time of sale to 11 tenants including anchors Kohl’s and Dick’s Sporting Goods, as well as Dollar Tree, Hard Exercise Works, GNC, Phenix Salon Suites, Experimax, Principled Chiropractic, Garden Nails and Medwear Uniforms. The Shoppes at Southern Palms was built in 2009 and spans 22 acres at the intersection of Southern Boulevard and Sansburys Way, 10 miles west of downtown West Palm Beach. Craig Fuller, Kirk Olson, Erin Patton, Scott Wiles and Drew Kristol of IPA represented the seller, an undisclosed private fund based in New York City, in the transaction. The IPA team also procured the buyer, a South American investment group founded by Claudio Mekler of Miami Managers LLC.

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