{"id":1004139794,"date":"2016-03-21T09:34:38","date_gmt":"2016-03-21T17:34:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004139794"},"modified":"2020-04-15T20:52:10","modified_gmt":"2020-04-16T04:52:10","slug":"continental-realty-corporation-sells-30500-square-foot-royal-palm-office-depot-center-for-7-5-million","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/continental-realty-corporation-sells-30500-square-foot-royal-palm-office-depot-center-for-7-5-million\/","title":{"rendered":"Continental Realty Corporation Sells 30,500-Square-Foot Royal Palm Office Depot Center For $7.5 Million"},"content":{"rendered":"

By Robert Demeter<\/em><\/p>\n

\"Royal<\/a>

Royal Palm Office Depot Center<\/em><\/p><\/div>\n

Miami<\/strong>\u2013Continental Realty Corp.<\/a>, a Baltimore-based commercial real estate investment and management company, has announced the sale of Royal Palm Office Depot Center, a 30,500-square-foot retail center in Royal Palm Beach, for $7.5 million.<\/p>\n

Continental Realty Corp. sold the property on behalf of CRC Fund III. David Donnellan and Mark Drazek of CBRE<\/a> represented the seller, Continental Realty Corp., and Alexandra Escudero of Fortune International Realty<\/a> represented the buyer, Uriel Investments LLC.<\/p>\n

Continental Realty acquired the retail center situated on 3.19 acres at 101 South State Road 7 in 2011 and maintained it 100 percent leased with Office Depot<\/a> and Mattress Firm. Both long-term tenants have been operating at the property for almost 15 years, recently extending their leases for another 10.<\/p>\n

\u201cThe new owner acquired a strategically-located, fully-leased retail asset in a consistently growing and affluent section of Palm Beach. During our nearly five years of ownership, we significantly increased the value of the center by negotiating long-term leases with creditworthy tenants and maintaining the center in peak operating condition,\u201d said David Donato, senior vice president, commercial division for Continental Realty Corp.<\/p>\n

Continental Realty Corp., founded in 1960, is a privately-owned firm that owns and manages a diversified portfolio of retail centers consisting of more than three million square feet of space, as well as apartment communities featuring more than 8,000 apartment homes. Positioned throughout the Mid-Atlantic<\/a> and Southeast<\/a> regions, the value of the portfolio exceeds $1 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Baltimore-based Continental Realty Corporation sold the 100-percent-leased Royal Palm Office Depot Center in Palm Beach County.<\/p>\n","protected":false},"author":59,"featured_media":1004139809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,1492,21742,21749],"tags":[],"class_list":["post-1004139794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-miami","category-latest","category-retail"],"acf":[],"yoast_head":"\nContinental Realty Corporation Sells 30,500-Square-Foot Royal Palm Office Depot Center For $7.5 Million - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/continental-realty-corporation-sells-30500-square-foot-royal-palm-office-depot-center-for-7-5-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Continental Realty Corporation Sells 30,500-Square-Foot Royal Palm Office Depot Center For $7.5 Million\" \/>\n<meta property=\"og:description\" content=\"Baltimore-based Continental Realty Corporation sold the 100-percent-leased Royal Palm Office Depot Center in Palm Beach County.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/continental-realty-corporation-sells-30500-square-foot-royal-palm-office-depot-center-for-7-5-million\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-03-21T17:34:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-16T04:52:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/odp-in-royal-palm-beach.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2500\" \/>\n\t<meta property=\"og:image:height\" content=\"1665\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Robert Demeter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-realty-corporation-sells-30500-square-foot-royal-palm-office-depot-center-for-7-5-million\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-realty-corporation-sells-30500-square-foot-royal-palm-office-depot-center-for-7-5-million\\\/\"},\"author\":{\"name\":\"Robert Demeter\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1b890baecdbd25af52e3a730ac8cff6f\"},\"headline\":\"Continental Realty Corporation Sells 30,500-Square-Foot Royal Palm Office Depot Center For $7.5 Million\",\"datePublished\":\"2016-03-21T17:34:38+00:00\",\"dateModified\":\"2020-04-16T04:52:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-realty-corporation-sells-30500-square-foot-royal-palm-office-depot-center-for-7-5-million\\\/\"},\"wordCount\":256,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-realty-corporation-sells-30500-square-foot-royal-palm-office-depot-center-for-7-5-million\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/03\\\/odp-in-royal-palm-beach.jpg\",\"articleSection\":[\"Deals\",\"Finance\",\"Investment\",\"Miami\",\"News\",\"Retail\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-realty-corporation-sells-30500-square-foot-royal-palm-office-depot-center-for-7-5-million\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-realty-corporation-sells-30500-square-foot-royal-palm-office-depot-center-for-7-5-million\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-realty-corporation-sells-30500-square-foot-royal-palm-office-depot-center-for-7-5-million\\\/\",\"name\":\"Continental Realty Corporation Sells 30,500-Square-Foot Royal Palm Office Depot Center For $7.5 Million - 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