O’Connor Acquires 150 and 151 Worth Avenue

by Nate Hunter

Palm Beach, Fla. — The two centers traded for a combined $146 million.

Palm Beach, Fla. — O’Connor Capital Partners, on behalf of an institutional client, has acquired 150 and 151 Worth Avenue, a 142,000-square-foot shopping center in Palm Beach. 150 Worth sold for a reported $106 million, while 151 Worth traded for $40 million.

The Goodman Company originally developed the project in phases from 1978 to 2001. The center is anchored by Saks Fifth Avenue and Neiman Marcus, and includes luxury retailers Gucci, Louis Vuitton, Tory Burch and Pucci.

O’Connor will manage 150 and 151 Worth Avenue, with continuing involvement from The Goodman Company. O’Connors manages more than 14 million square feet of retail throughout the U.S. and Mexico.

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