Palm Beach Gardens, Fla. — Boston-based Mount Vernon Co. has acquired Promenade Shopping Plaza, a 207,877-square-foot Publix-anchored center located in Palm Beach Gardens, a city in South Florida’s Palm Beach County. The South Florida Business Journal reports the sales price as $67 million. Built in 1989, Promenade Shopping Plaza is situated on nearly 23 acres and was 98 percent occupied at the time of sale. The property features a completely rebuilt 54,964-square-foot Publix prototype store that reopened in May 2025 after the former 42,450-square-foot store was demolished. Additional tenants at the center include Planet Fitness, Bealls Outlet, Goodwill and Ace Hardware.
Danny Finkle, Jorge Portela and Kim Flores of JLL represented the seller, Nuveen Real Estate. This transaction marks the largest grocery-anchored shopping center sale in northern Palm Beach County in more than five years, according to JLL.