By: Marisa Gottesman
Delray Beach-based Menin Development, Inc. purchased a 84,551-square-foot retail center located at 500 Linton Boulevard for $33 million.
The shopping center, known as New Century Commons, is located on the south side of Linton Boulevard, with approximately 620 feet of frontage, located halfway between Interstate 95 and South Federal Highway in the Linton Boulevard/Federal Highway retail corridor.
PetSmart anchors the former Costco building, occupying 28,762 square feet. Sports Authority currently occupies 45,173 square feet, but is scheduled to close as part of the big-box chain’s bankruptcy protection plan.
The northwest part of the site has a 7,400 square-foot-building, which is home to Chipotle Mexican Grill, and Cream, an Italian concept store that features handmade gelato, Italian coffees, fine wines, beers, and handmade pastries. PNC Bank occupies a third stand-alone building.
Marcus & Millichap Senior Vice President and Institutional Property Advisors (IPA) senior director Douglas K. Mandel negotiated the sale. Mandel represented the seller, Linton 510 LLC, in the transaction.
The deal closed on June 20.