🏆 Residential: The top home sale recorded in South Florida was in Palm Beach Gardens, where a trust tied to Andrew Slattery, a Valvoline Instant Oil Change franchisee, purchased a home at 12240 Tillinghast Circle for $12 million. The seller was an LLC managed by Richard French, Jr. that had purchased the home in 2019 for $3.9 million. The mansion, built in 2007, spans more than 8,300 square feet and has five bedrooms, five bathrooms, a pool and a fountain. The transaction appears to have been off market.
🏆 Commercial: The priciest commercial transaction to hit records in South Florida was for an extended-stay hotel, the WoodSpring Suites West Palm Beach, which traded for just over $10.6 million. The seller of the nearly 48,600-square-foot property, at 6350 Okeechobee Road in West Palm Beach and built in 2023, was an affiliate of Miami-based Gold Coast Premier Properties. The buyer was an affiliate of Atlanta-based Noble Investment Group. The property sits on a 3.2-acre site and has 122 units. The transaction pencils out to $86,900 per room.
📊 Commercial: In Coconut Creek, a strip mall at 5463 Lyons Road, part of Winston Park Center, sold for $6.8 million. The seller, an LLC managed by Mehmet Capin, had purchased the 17,000-square-foot building for $4 million in 2018. The buyer is an LLC tied to Parkland-based TMI Associates. The latest deal works out to $400 per square foot. Among the tenants at the property is The Vitamin Shoppe.
📊 Residential: Marco Savo scooped up a newly built condo at the two-tower Selene condominium at 151 North Seabreeze Boulevard in Fort Lauderdale for just over $5 million. The project’s developer is Kolter Urban and Douglas Elliman is handling sales. Savo’s pad spans 3,100 square feet, pricing the deal at roughly $1,600 per square foot.
By the Numbers: Retail closures poised to fare better this year after rocky 2025
Last year was tough for U.S. major retailers, which announced more store closures than they had the year before — but 2026 is off to a bit of a better start, even amid a major retail bankruptcy filing.
Retailers announced 8,270 closures last year, up almost 13 percent year over year, according to Coresight Research. Announced openings numbered 5,270 last year, down 11 percent year over year.Rite Aid, the pharmacy chain that filed for bankruptcy for a second time last year, ranked No. 1 for most announced closures last year, with 1,292 locations. Second place went to crafts and fabric supply store Joann, with 815 closures.
