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Thursday, June 20, 2013

South Florida Business Journal: LA Fitness Plaza in Palm Beach Gardens sells at 68% profit


South Florida Business Journal's Oscar Pedro Musibay reports:

"Cornerstone Real Estate Advisors has paid $22.25 million for the LA Fitness Plaza in Palm Beach Gardens, giving the seller a 68 percent profit on the face value.

The seller was a company operating as DIV Palm Beach Gardens, a partnership between Sterling Organization and Boston-based The Davis Cos. The partners paid $13.25 million in 2010 for the 105,453-square-foot shopping center that has a 41,255 square foot LA Fitness as an anchor."

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