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.