Shoppes & Offices at PGA West

Location: Palm Beach Gardens, FL
Type: Mixed Use
Price: $5,700,000

SMC has provided a $5,700,000 ten-year fixed rate mortgage for the acquisition of Shoppes & Offices at PGA West, a 37,782 SF mixed use center located in Palm Beach Gardens, FL. Completed in 2001, the Property is comprised of four, two-story buildings and is 98.3% occupied by 19 regional and local tenants. The Property was originally developed as the first phase of a larger four-phase project that includes a mix retail, office and residential uses. The Property is centrally located in Palm Beach County approximately one mile west of I-95, along PGA Boulevard (50,100 VPD), in the affluent community of Palm Beach Gardens. Within a 3 and 5-mile radius of the Property, the population is approximately 56,362 and 127,360 and the average is household income is $103,472 and $100,075, respectively. The area directly surrounding the Property includes mixed use retail and office buildings, large residential neighborhoods and golf courses.