dBusinessNews

DELRAY BEACH, FL – Athan "Tom" Prakas, president/broker of The Prakas Group, Inc., a full service real estate brokerage specializing in commercial transactions, business brokerage, restaurants and hospitality properties, has reported the completion of a property sale, business sale and one lease transaction in recent activity in Palm Beach County.

Christian Prakas, restaurant/nightclub specialist, was exclusive broker for the following three transactions:

*Select Investment Properties has purchased a 2,800 SF building located at 19-23 SE 5^th Avenue, Delray Beach, FL. The building is presently 75% leased including an insurance company and BluIce Lounge, a new martini lounge. The sale is valued at $1,250,000. The Prakas Group, Inc. represented both the buyer and the sellers, Joseph Peraino and Frank Carucci of Joe's Pub Corp.

* Khoury Synergy has purchased the 1,500 SF BluIce Lounge located at 19 SE 5^th Avenue, Delray Beach, FL. BluIce Lounge is a chic lounge serving Mediterranean themed dishes and crepes along with a full liquor bar. The sale is valued at $175,000. The Prakas Group, Inc. represented the buyer as well as the seller, Taylor Smith of On The Rocks.

According to Christian Prakas, "This is an excellent location in Delray Beach, right on the corner of Atlantic Avenue and Federal Highway. It's a treasure-trove for any business seeking maximum exposure on one of the hottest strips in Palm Beach County."

*Boca Tanning Club Deerfield, Inc. has leased 1,700 SF of retail space for Boca Tanning Club, an upscale tanning salon, located at 215 N. Federal Highway, Boca Raton, FL. The company has been in business for five years and has three other Florida locations including one in Boca Raton, Fort Lauderdale, and West Palm Beach. The deal is valued at $215,000. The Prakas Group, Inc. is exclusive broker for Boca Tanning Club for all of South Florida. The Prakas Group, Inc. represented the lessee. The lessor, Investments Limited, represented themselves.

The Prakas Group, established in 2000, is on track to close over $300 million in sales over a six-year period. Headquartered at 705 East Palmetto Park Road in Boca Raton, FL, The Prakas Group provides brokerage services for restaurant, nightclub and commercial properties throughout Palm Beach, Broward and Dade counties, and Orlando. Principals of The Prakas Group add depth to the firm's brokerage services with over 200 years of combined experience in the restaurant/nightclub industry as owner/operators. Clients of The Prakas Group include Taverna Opa, Buckhead Life Restaurant Group, Gusto's Grill & Bar, Burton Handelsman, MDN Properties, Rodney Mayo, Tarpon Bend Restaurants, Gotham City, Dave Manero Restaurants, and Mama Mia's, just to name a few. For more information, contact The Prakas Group at (561) 368-0003, or visit the company's website at www.prakasgroup.com.

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