October 31, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $13.1 million sale of Winfield Plaza, a 30,683-square-foot retail strip center located in the affluent South Florida community of Boca Raton.
The HFF team marketed the property on behalf of a private seller. A private investor purchased the asset.
Situated on 2.82 acres at 471-515 Northeast 20th Street and 2001, 2151 and 2181-2201 North Federal Highway, Winfield Plaza is exposed to more than 45,000 vehicles per day. The center is less than a mile from downtown Boca Raton, which is experiencing an urban renaissance with a surge in high-density development, and in an affluent area with almost 32,000 residents within a three-mile radius with an average annual household income of more than $105,000. Winfield Plaza comprises a strip center and three outparcels that are home to a variety of well-known tenants within the Boca Raton community, including Osha Thai Restaurant, Sweet Deals Chocolates, Subway, Sr Burrito, Cannoli Kitchen, Children’s Dental, Artful Dodger Bar & Grill, Keter Bakery and Cove Shoe Repair.
The HFF investment advisory team that represented the seller included directors Eric Williams, executive managing director Manny de Zárraga, senior managing director Danny Finkle and managing director Luis Castillo.
“Winfield Plaza represented a rare opportunity to acquire a well-located retail center in eastern Boca Raton,” Williams said. “Winfield Plaza, like many other properties in East Boca, has been owned by the same landlord for decades, and investors respond vigorously to the opportunity to acquire similar assets given their scarcity.”