Christ Fellowship Church acquired a Macy’s Household furniture and Mattress Gallery in Boca Raton for $23.5 million.
An affiliate of the Palm Seashore Gardens-primarily based church acquired the 50,000-square-foot retail retail store at 9339 Glades Road, records and Vizzda present. The offer expands Christ Fellowship’s serious estate portfolio in Palm Seaside County, exactly where the church ordered a Jupiter health club previous calendar year.
Macy’s owned the 5.3-acre property in Boca Raton considering that 1999, when the building was accomplished, records display. A firm spokesperson claimed Macy’s has a lease back again selection by way of the center of this year as part of the sale to Christian Fellowship.
“It is our intent to relocate our household furniture and mattress gallery to a close by area once the lease expires,” the spokesperson claimed.
In latest months, the office retail store chain announced that the business was closing 5 retailers in four states, like just one in Florida’s money town, Tallahassee. Macy’s is also laying off 13 per cent of its company workers as the retail large to trim prices and redirect investing to increase the client expertise, the Wall Street Journal described.
Macy’s also shut a handful of outlets last yr.
Christ Fellowship, led by senior pastors Todd and Julie Mullins, is in growth mode. In May well of previous year, the non-denominational evangelical church purchased Jupiter Physical fitness Center at 1200 West Indiantown Highway for $8 million, information present. The faith-centered corporation programs to transform the 20,000-square-foot shuttered health and fitness center into a 368-seat church.
With the purchase of the Macy’s spot, Christ Fellowship now owns 20 homes in Palm Seashore County, according to data.
South Florida has knowledgeable a handful of standalone retail developing trades not too long ago. This thirty day period, an affiliate of West Aventura Builders, led by Marina Kessler and Gustavo Lumer, paid out $15.4 million for a 45,000-square-foot building leased to L.A. Health in south Miami-Dade County. The not long ago completed making was created and marketed by Ram Realty Advisors.
Also this thirty day period, Complete Meals Current market acquired a business house housing just one of its outlets in a downtown Miami combined-use making. The Amazon-owned grocer paid $21 million for the floor-ground unit at Achieved3.
