James Batmasian and Palm Trails Plaza at 1101-1149 South Army Path in Deerfield Beach front (Getty Pictures)
Boca Raton-based industrial actual estate investor James Batmasian picked up yet another retail plaza in Deerfield Seaside, shelling out $17 million for a shopping center anchored by a Walmart Neighborhood Market place.
An entity managed by Batmasian acquired Palm Trails Plaza at 1101-1149 South Army Path, data display.
The seller, an affiliate of Savitar Realty Advisors, a Miami Seaside-based true estate firm led by CEO Clifford Stein, paid $9.1 million for the plaza in 2016. The 77,365-sq.-foot searching centre was done in 1999, information present.
In addition to Walmart, other tenants incorporate Jimmy John’s, Metro PCS, and The UPS Keep. The assets also has an outparcel leased to Pollo Tropical, according to Loopnet.
In 2019, Batmasian paid $16.5 million for a shopping center at 1799, 1801 and 1831 West Hillsboro Boulevard in Deerfield Beach front. Tenants involve Checkers, Tailgators Sports activities Bar and professional medical offices.
A yr later, then-President Donald Trump pardoned Batmasian, who pleaded responsible to tax evasion in 2008. He served 8 months in prison for not spending the IRS about $250,000 in payroll taxes.
Batmasian was also connected to a general public corruption scandal that introduced down ex-Boca Raton Mayor Susan Haynie, who final yr pleaded responsible to misdemeanors of abusing her office environment. State prosecutors alleged that Haynie failed to disclose her economical ties to Batmasian and his spouse Marta, although voting on their tasks.
Before this yr, the Batmasians’ Investments Restricted acquired a retail and workplace making in downtown Delray Beach for $18.5 million. The business owns and manages about 3,800 residences and far more than 3 million square toes of industrial homes in South Florida and all around Boston, in accordance to its website.
Procuring centre deals are booming in South Florida. This month, Boston-primarily based Longpoint Realty Companions picked up a retail plaza anchored by a Sedano’s supermarket in Hialeah for $43.2 million. In July, El Paso-primarily based River Oaks Qualities paid $25.5 million for Shop Delray, a buying middle anchored by Joseph’s Typical Market place in Delray Beach front.
