Reichel Realty Announces 165,000 SF Retail Leases / Renewals

June 10, 2010 - PRLog -- PALM BEACH GARDENS, Fla.— Reichel Realty announced the firm completed commercial lease transactions totaling 165,000 square feet and valued at $7.3 million over the past 120 days at several Palm Beach County commercial projects.
Among the major transactions:
   At Nassau Square, 7577 Lake Worth Rd., Lake Worth (at the Florida Turnpike), Reichel leased 10,000 square feet to Dollar Tree for a 5-year term, a lease valued at $500,000. It also renewed a 40,000-square-foot Publix lease in a $1 million transaction.  Landlord is Four Florida Shopping Centers Properties Limited.
   At Forest Hill Center, located at 3139 Forest Hill Blvd. (Forest Hill Blvd. and Congress Ave.) in Palm Springs, Florida, Reichel renewed a Winn Dixie lease for 40,400 square feet, valued at  $1 million. It also leased 6,200 square feet to Fresenius Kidney Dialysis Center in another $1 million transaction, along with space to smaller tenants including China City, Golden Connections and a barber shop.  Jim Tornabene, sr. associate, handled these transactions. Landlord is Four Florida Shopping Centers Properties Limited partnership.
   At Sandalfoot Square Shopping Center located at 23100 Sandalfoot Plaza Drive (U.S. 441 & Marina Drive) in west Boca Raton, Florida.  Reichel renewed Taco Bell on a ground lease outparcel and leased 7,130 to new tenants in transactions totaling $600,000. Dan Casey, vice president handled these transactions.  Landlord is Sandalfoot Plaza Boca LLC.
   Three new leases for 5,720 square feet at Concourse Plaza, 2020 Palm Beach Lakes Blvd. in West Palm Beach, brought that center to 100 percent occupancy.  The project is owned by WPB Concourse Plaza LLC.
   “The retail commercial market remains challenging with tremendous competition for quality tenants, who are taking the opportunity to lock in favorable rates and terms,” said Reichel. “At the same time that there is great pressure on landlords to cut costs, it’s never been more important to effectively manage and maintain a retail center. That’s key to the success of both tenants and owners.”    
   For more information, visit www.reichelrealty.com.