Charlotte-based Faison & Associates agreed to sell 10,756 square feet of high-end retail space in downtown Delray Beach, FL, for a total of $5.2 million.
In the first deal, Downtown Delray Holdings LLC, an art dealer, paid $1 million, or a whopping $520 per square foot, for 1,923 square feet at 250-258 E. Atlantic Ave. The buyer will occupy that space.
In the second deal, a restaurant operator known as 290 East Atlantic LLC agreed to pay $4.2 million, or $475 per square foot, for 8,833 square feet at 270 and 290 E. Atlantic Ave. The deal is expected to close this week.
Tom Prakas of Boca Raton, FL-based Prakas Group represented all parties.
Jonathon Heifetz // Costar Group