Archstone Acquires Palmetto Promenade Site for $20.1M

Archstone New Development Holdings acquired the 5.78-acre Archstone Palmetto Promenade site in Boca Raton, Florida from Fifth Third Bank for $ 20.125 million, or about $ 3.5 million per acre.

The 18-parcel site fronts E. Palmetto Park Road and spans NE 3rd and 4th Avenues. The site was previously known as the Palmetto Promenade. Renamed Archstone at Palmetto Park, the newly planned mixed-use condo, office, and retail development is slated for…
South Florida Commercial Real Estate News From CoStar Group