Garden Commercial has added to its Florida portfolio with the acquisition of Plaza Del Mar, an 83,841-square-foot shopping center located at 250 South Ocean Boulevard in Manalapan. Positioned at the intersection of Ocean Avenue and A1A, the upscale, grocery-anchored retail destination is directly across from the Eau Palm Beach Resort & Spa, offering a prime location between the Atlantic Ocean and the Intracoastal Waterway.
“We are thrilled to add this trophy Palm Beach County property to our Florida portfolio,” said Scott Loventhal of Garden Commercial. “With the only grocery store in the vicinity, and a well-curated mix of distinctive restaurants and boutique retail, Plaza Del Mar presented a highly attractive investment opportunity. We look forward to taking this market-leading shopping center into its next chapter and being part of this beautiful coastal community.”
The property was purchased by Manalapan Plaza Del Mar, LLC, an affiliate of Garden Commercial. CBRE’s National Retail Partners team in Florida, led by Casey Rosen and Dennis Carson, exclusively represented the seller, an affiliate of a joint venture between Evergreen Investment Advisors and Kitson & Partners.
Plaza Del Mar is anchored by a high-volume Publix supermarket and features a mix of dining, boutique retail, and personal care services. Popular restaurants include John G’s, Thaikyo Asian Cuisine, Art Basil Restaurant, and The Ice Cream Club. High-end apparel retailers such as Chico’s, Evelyn & Arthur, and J.McLaughlin are among the tenants, with Addicted Chic set to open later this year.
Located at the entrance to some of the nation’s most affluent communities, Plaza Del Mar serves both residents and visitors to Manalapan and Palm Beach. The trade area includes approximately 200,000 people within a five-mile radius, encompassing high-density neighborhoods west of the Intracoastal Waterway.
The shopping center draws nearly 900,000 annual visits, according to Placer.ai data. It offers ample parking and access from a signalized intersection. Approximately 8,000 square feet of available retail space is currently open for leasing and can be subdivided to meet tenant needs. For leasing inquiries, contact Michael Gartenberg at 973-467-5000 or MichaelG@gardenhomes.com.
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