Faison Sells High-End Retail Space in Delray Beach

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.

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