The sale of Palm Beach Outlets was the biggest commercial real estate deal of the year in Palm Beach County. The top 5 for 2015 (with the obvious caveat that there are two days left for a blockbuster deal to close):
Palm Beach Outlets main mall: $278 million
In a stunning turnaround, the property at Palm Beach Lakes Boulevard and Interstate 95 transformed from a failed mall into one of the county’s most valuable pieces of property. This deal was for the eastern half of the property, which includes 460,000 square feet of retail space. Tenants include Saks Fifth Avenue OFF 5TH, J.Crew, Ann Taylor, Banana Republic, Brooks Brothers, Kenneth Cole, Nike, Tommy Hilfiger and Under Armour.
Phillips Point: $245.5 million
As West Palm Beach’s Class A office market tightens, the trophy address along the Intracoastal Waterway fetched big bucks.
Palm Beach Outlets strip center: $116.7 million
This was a separate deal for the 300,000-square-foot portion of the Palm Beach Outlets along I-95. Tenants include Whole Foods Market and Sports Authority.
TGM Vintage at Abacoa: $82 million
This 390-unit apartment complex in Jupiter fetched more than $200,000 a unit.
Mark at CityScape: $81.7 million
The sale of this luxury rental complex in Boca Raton reflects an apartment boom.