Retail/Office center sale pending

Palmplaza_2
There’s a "Sale Pending" message on the Multiple Listing Service entry for Palm Plaza. The two-story retail strip is located on the South Shore Road and is near the Westin.  Listing price recently was $2.25 million.  When originally listed, in winter of ’06, the asking price was $2.6 million.

Palm Plaza was built years ago and quickly became a favorite of locals and visitors for a gourmet deli/special foods store on the first floor.  When that business closed, energy went out of the center. Retail vacancies began to appear.

With a new retail strip being built right across the road, next to the Guinea Gut apartments, Palm Plaza might not continue as a retail project.  Especially since it’s been pitched to buyers since last February as, "Ideal for condominium conversion.

New on the market this week: Little Fish, the children’s toy store at Coral Bay’s Cocoloba Plaza.  Asking price: $48,000.

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