Cushman & Wakefield has arranged the $3.875 million sale of a 12,940-square-foot mixed-use property at 258 SE 6th Ave. in Delray Beach, FL. Mike Ciadella, Scott O’Donnell and Dominic Montazemi represented seller Delray SE 6th Development Partners LLC in the transaction to CDS International Holdings Inc.
Ciadella noted that “the buyer appreciated that the property offered immediate upside via below market in-place rents and long term potential for redevelopment into residential or hotel use.” The .58 acre site includes a two story building with retail and office space just two blocks south of Atlanta Avenue with visibility to 14,000 vehicles per day along South Federal Highway due to its approved zoning status. It is currently fully occupied by a mix of retail, medical and office tenants.
