RETAIL CENTER IN BOYNTON BEACH, FL

BOYNTON BEACH, FL – Frank Sullivan and David Turley of David Cronheim Mortgage Corporation has secured financing of $10,450,000 for an 85,219 square foot retail center located in Boynton Beach, Florida. The loan has a term of 10 years and an amortization of 30 years.

Built in 1998, the center includes a 51,703 square foot Winn Dixie Marketplace and a 33,516 square foot strip retail center including national and prominent regional names such as Starbucks Coffee and The UPS Store. Winn Dixie has performed admirably at this location, reporting stable sales of $325 per square foot. The center’s parking lot accommodates 426 vehicles.

The center is located at the intersection of Hypoluxo Road, four-lane signalized thoroughfare and major east-to-west roadway of Palm Beach County, and Jog Road, also a four-lane roadway, runs north-to-south from Broward County through northern Palm Beach County, in Boynton Beach, Palm Beach County, Florida. The Subject is located approximately 1.6 miles due east of the Florida Turnpike, a major north-to-south toll highway, and Interstate 95, which furnishes highway access to Florida and up the eastern seaboard to Maine, may be accessed directly from Hypoluxo Road. Within a one-mile radius of the center, there are 9,733 inhabitants living in 3,538 households having an average annual income of $94,023.