KONOVER SOUTH AND PARTNER ACQUIRE PRIME CITY WALK RETAIL LOCATED IN THE HEART OF DELRAY BEACH’S PINEAPPLE GROVE DISTRICT

Located at 200 NE 2nd Avenue, the ground-level 16,652-square-foot space houses culinary favorites Brulé Bistro, Joseph’s Wine Bar & Cafe, Yama Japanese Restaurant, and more, as part of the upscale four-story City Walk residential condominium building

DELRAY BEACH (PALM BEACH COUNTY), Fla. (May 13, 2019) – On May 13, Deerfield Beach-based Konover South LLC, partnering with Gary Broidis, Principal of Delray Beach-based Atlantic Commercial Group, Inc., purchased the prime ground-level City Walk retail located in the heart of Delray Beach’s Pineapple Grove district. Located at 200 NE 2nd Avenue, the ground-level 16,652-square-foot space houses culinary favorites Brulé Bistro, Joseph’s Wine Bar & Cafe, Yama Japanese Restaurant, and more, as part of the upscale four-story City Walk residential condominium building. The purchase price for the retail property was $8,525,000 equaling $512 per square foot. In making the announcement, Konover South CEO David Coppa stated, “We are pleased to have ownership in the thriving downtown Delray Beach market, and in this property especially which is home to many of downtown’s most popular restaurants.” In addition, Coppa said the space also offers both streetfront and garage parking, plus outdoor seating areas. Concluding, Coppa added that property management will be provided by Konover South and that leasing will be handled by Gary Broidis who can be contacted at gary@atlanticcg.com or 561-703-9298.

The seller was Citywalk Commercial Property, LLC, and a loan was assumed with Continental Casualty in the amount of $4.9 million.

Also in Palm Beach County, Konover South owns the 73,000-square-foot Admirals Crossing retail center located at 3755 Military Trail in Jupiter, as well as the Yamato Crossing retail center at 222 Yamato Road in Boca Raton. The company owns, manages and leases over a dozen prime retail centers in Florida, most of which are grocery-anchored either by Aldi, Publix, Sprouts Farmers Market, Walmart Neighborhood Market, or Winn-Dixie.

 

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At the helm as CEO of Konover South since 2010, David Coppa has transformed the venerable 62-year-old family business into a recognized leader in retail infill ground-up centers primarily in Florida’s core markets. Coppa is now in his 20th year in the family business begun by the legendary Simon Konover in 1957.

Built on a legacy of family tradition spanning three generations, Konover South continues the successful track record of The Simon Konover Organization, an industry-leading real estate company since 1957. Konover South is a fully integrated acquisition, development and management company operating throughout the southeastern United States. Led by David Coppa, CEO, Konover South LLC is headquartered at 431 Fairway Drive, Deerfield Beach, Fla. www.konoversouth.com

 

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