**Delray Beach Retail Center Sells for $28.8 Million**
O’Connor Capital Partners has acquired Delray Corner, a retail shopping center in Delray Beach, Florida, for $28.8 million. The 86,000-square-foot center, which is anchored by CVS, was sold by Berta Management.
The transaction was brokered by Douglas Mandel and Zach Levine of Marcus & Millichap, who represented the seller and also secured the buyer.
“Over 96% occupied by a diverse mix of tenants on triple-net leases with weighted average lease terms of over eight years, Delray Corner provides the buyer with immediate stable cash flow in a submarket with limited vacancy,” said Mandel.
Originally built in 1981 on a nine-acre site, Delray Corner underwent a major repositioning in 2023. The redevelopment introduced new tenants such as Michaels, Conviva Care, and a standalone Starbucks location. Additional tenants in the center include Hacienda Restaurant, Enterprise Rent-A-Car, Power Financial Credit Union, and Taso’s Greek Taverna.
