Even though the "For Sale" sign was removed over the weekend, Palm Plaza, a small shopping center a few blocks from the Westin resort is still for sale. It’s offered by Calabash Real Estate of St. Croix at $2.6 million.
The sales pitch for the two-story commercial property is that it’s "the perfect condominium conversion project." Maybe so.
Palm Plaza was a retail-hit several years ago when it opened, anchored by a wonderful gourmet deli. When new owners moved in and went to work, vacancies among the other (maybe) dozen units began to appear. Then the developer of the center sold Palm Plaza – to those gaming people from St Croix, and now they have it for sale.
Calabash is also advertising "The Lantern" at Cruz Bay. It’s half an acre, priced at $3.5 million, with "A site map, floor plans, elevations and permits available for developers to build 15 luxury condominiums."