InvenTrust Acquires Grocery-Anchored Center in South Florida for $88 Million

Trader Joe’s anchors PGA Plaza, which was 95 percent leased at the time of sale. (Photo courtesy of LoopNet) Trader Joe’s anchors PGA Plaza, which was 95 percent leased at the time of sale. (Photo courtesy of LoopNet)

Palm Beach Gardens, Fla. — InvenTrust Properties Corp. has acquired PGA Plaza, a 120,000-square-foot shopping center in Palm Beach Gardens, for $88 million.

Menin Development Inc. sold the center. The Delray Beach-based company invested $14 million to renovate the property in 2015. PGA Plaza was 95 percent leased at the time of sale to tenants such as Trader Joe’s, Marshalls, Ulta Beauty, Verizon Wireless, Orangetheory Fitness and Chase Bank.

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