Compass successfully closed on the $53,000,000 construction mini-perm loan for a 350 unit Class “A” Luxury…
Compass successfully closed on the $4,750,000 refinance of the Golden Shoppes a retail / automotive retail center consisting of three (3) single-story, buildings containing approximately 39,365 ± Rentable SF situated on a 6.53 ± Acre parcel.
The subject property is situated on the south side of Okeechobee Boulevard approximately 1 1/4 mile west of Florida’s Turnpike. The property is extremely well located along one of Palm Beach Counties busiest thoroughfares with an average daily traffic count exceeding 57,000 vehicles. The property was developed and constructed in 2004 and has ample room for parking with a total of 249 +/- spaces or 6.32 +/- spaces per 1,000 net rentable area.
At the time of refinancing the subject property was 97% leased and occupied by nineteen (19) tenants. Building tenants include: Mobil Lube Express, Tires Choice, Enterprise Rent-A-Car and Hullet Environmental Services.