CHICAGO, Sept. 26, 2023 /PRNewswire/ — Bucksbaum Properties, LLC, a real estate owner and developer based in Chicago, announces its recent acquisition of Plaza La Mer, a prominent neighborhood shopping center located in Juno Beach, Florida. This strategic investment continues Bucksbaum’s neighborhood retail investment initiative with plans for continued growth in new markets including Florida.
Plaza La Mer, built in 1988, encompasses 10-acres of prime real estate at the northwest corner of U.S. Route 1 and Donald Ross Road, one block west of the Atlantic Ocean. The property features five retail buildings totaling over 111,000 square feet, housing a diverse array of tenants including Dunkin’, Trustco Bank, Loggerhead Fitness, and a host of restaurants, retailers and service providers.
Bucksbaum Properties, under the leadership of founder John Bucksbaum, was established in 2011 with a mission to capitalize on urban retail opportunities. Over the years, the company has adapted its business strategy to develop retail, hospitality, office, and apartment properties within the evolving mixed-use environment. Retail fundamentals remain a central focus of Bucksbaum’s investment strategy, consistently evaluating how retail interacts with all asset classes.
The acquisition of Plaza La Mer aligns with Bucksbaum’s strategic vision, leveraging the in-place pricing of retail assets to acquire exceptionally well-located land. The company is particularly interested in assets that offer a long-term potential for higher and better use, presenting multiple paths to success with in-place cash flow.
“We are excited about the acquisition of Plaza La Mer and the opportunities it presents in enhancing our retail portfolio,” stated John Bucksbaum, Founder of Bucksbaum Properties. “Our flexible capital, extensive industry experience, and unparalleled track record in development, property management, and leasing uniquely position us to capitalize on assets like Plaza La Mer and execute our strategy effectively in various markets across the United States.”
For more information, please visit www.bucksbaumrp.com
About Bucksbaum Properties, LLC:
Bucksbaum Properties, LLC is a fully integrated real estate owner and developer headquartered in Chicago, Illinois. Established in 2011 by John Bucksbaum, the company has a distinguished track record in developing retail, hospitality, office, and apartment properties within evolving mixed-use environments. Retail fundamentals remain at the core of Bucksbaum’s investment strategy, and the company continues to adapt its business plan to changing market dynamics. With a focus on urban retail opportunities, Bucksbaum Properties is committed to creating value and contributing to communities across the United States.
SOURCE Bucksbaum Properties
Originally published at https://www.prnewswire.com/news-releases/bucksbaum-properties-acquires-plaza-la-mer-expanding-its-retail-portfolio-to-juno-beach-florida-301938392.html
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