CBRE Group, Inc., arranged the sale of Catalina Center North, a 30,997-square-foot retail center shadow-anchored by Kohl’s and located adjacent to the Marshalls and 24 Hour Fitness anchored Catalina Center in Boynton Beach, Florida. The area sold includes two single tenant buildings, one leased to CVS and the other to Carrabba’s, as well as a fully occupied 13,000-square-foot multi-tenant strip center. Situated at the high traffic intersection of Congress Avenue and Gateway Boulevard, the property was acquired by an Aventura, Florida, based investor. CBRE’s Dennis Carson, Casey Rosen, and David Donnellan represented the seller, American Development Corporation.

“Catalina Center is exceptionally well located within Boynton Beach’s ‘golden mile’ regional retail concentration situated along Congress Avenue. It serves an in-fill trade area with major barriers to entry and a unique combination of immediately surrounding intense residential and office uses including, among others, Renaissance Center and Quantum Business Park,” said Mr. Carson, executive vice president, National Retail Partners, CBRE.

“The property presented a unique retail investment opportunity that included creditworthy outparcel tenants with in-line shops and the shadow anchor tenancy of Kohl’s, Marshalls and 24 Hour Fitness,” said Mr. Donnellan, senior vice president, CBRE Capital Markets.

Based in Fort Lauderdale, Mr. Donnellan focuses on the disposition of multi-tenant shopping centers and single-tenant net leased investments in South Florida. Based in Miami, Mr. Carson and Mr. Rosen focus on the disposition of multi-tenant Class A retail investments across Florida and the southeastern United States.