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CBRE Helps Retail Properties Unload Royal Palm Beach Center

Commons at Royal Palm

Just weeks after adding two big-name retailers to its lineup, Retail Properties of America has unloaded the Commons at Royal Palm.

The 159k SF strip center, 95% leased at the time of sale, was purchased by IMC Equity Group for about $23M, according to the South Florida Business Journal. This past November, the former owners secured new leases with both Hobby Lobby and Big Lots, according to the Palm Beach Post.

CBRE's Casey Rosen and Dennis Carson brokered the sale of the center at 531 N State Road 7 in Royal Palm Beach for Retail Properties.