Institutional Property Advisors Closes Shopping Center Sale in Palm Beach County
May 14, 2025
BOYNTON BEACH, Fla., May 14, 2025 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Cross Creek Center, a 37,201-square-foot neighborhood shopping center in Boynton Beach, Florida.
“The center is 97% occupied by an excellent mix of retail, service, and medical tenants that have an average tenure of over 10 years,” said Drew A. Kristol, IPA senior director. Kristol and IPA’s Kirk D. Olson represented the seller, Janoura Realty, and procured the buyer, Phillips Edison & Company. “Cross Creek Center was highly sought after by multiple local, national and international buyers based on the location, condition and excellent tenant mix,” said Olson.
Built in 1988 and renovated in 2014, Cross Creek Center is close to Interstate 95 on Boynton Beach Boulevard, which sees an average of over 37,000 vehicles per day. The center is surrounded by residential communities and national retailers such as Publix, Starbucks, Walmart, Wells Fargo, and Chick-Fil-A. Within three miles the population is over 114,000 and the average household income is over $85,400. The tenant roster includes Stanton Optical, UPS Store, Smoothie King, and Metro by T-Mobile.
“The center is 97% occupied by an excellent mix of retail, service, and medical tenants that have an average tenure of over 10 years,” said Drew A. Kristol, IPA senior director. Kristol and IPA’s Kirk D. Olson represented the seller, Janoura Realty, and procured the buyer, Phillips Edison & Company. “Cross Creek Center was highly sought after by multiple local, national and international buyers based on the location, condition and excellent tenant mix,” said Olson.
Built in 1988 and renovated in 2014, Cross Creek Center is close to Interstate 95 on Boynton Beach Boulevard, which sees an average of over 37,000 vehicles per day. The center is surrounded by residential communities and national retailers such as Publix, Starbucks, Walmart, Wells Fargo, and Chick-Fil-A. Within three miles the population is over 114,000 and the average household income is over $85,400. The tenant roster includes Stanton Optical, UPS Store, Smoothie King, and Metro by T-Mobile.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.