Enter the "Deal room" for exclusive documents related to this property.
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer an opportunity to acquire Crystal Cove Commons (the “Property”), a 60,993 square foot upscale retail center located in the highly affluent community of North Palm Beach/Palm Beach Gardens, Palm Beach County, Florida. Originally developed in 1982, the property was substantially redeveloped between 2017-2019 with ±$6.0 million in capital improvements, transforming what was formerly known as Crystal Tree Center into one of the most dynamic mixed-use projects in northern Palm Beach County. The Property is currently 96.63% leased to a diverse, high-quality mix of food & beverage, fitness, high-end service, office, and medical uses, including popular community dining staples Cucina Cabana and Cod & Capers Seafood Marketplace.
This offering represents an exceptional opportunity to acquire a recently redeveloped asset with a secure and well diversified revenue stream on an infill site in a highly coveted South Florida submarket with bankable cash flow and strong NOI growth.
Note: The seller is also marketing for sale the Offices at Crystal Cove Commons simultaneously, which can be purchased individually or as a portfolio with the Crystal Cove Commons.
- Strong NOI Growth Profile - 22.4% projected income growth over 10-year hold (or 2.0% CAGR).
- Recently Redeveloped - Substantial recent capital improvements minimize the need for major capital outlay in the intermediate term.
- High Barrier-to-entry location - Irreplaceable infill site in a coastal location with significant barriers-to-entry for large scale retail development.
- Unique Destination Tenancy - High quality tenancy with a loyal customer base and following draws customers from an extended trade area, including West Palm Beach, Jupiter and Palm Beach Gardens.
- Optimal Tenant Mix - Ideal tenant mix thoughtfully curated towards the modern-day retail consumer and fully leased to internet resistant retail, high-end service, and food/restaurant uses.
- Outstanding Demographics - Exceptional demographic profile with 137,745 residents within a 5-mile radius, with an average household income of $102,783.