January 31, 2017
Centro, a parking-less condo, leased 2,200 Sq Ft to a Palm Beach County-based sandwich chain and a global Italian gelato franchise for$75 per Sq Ft! These are marked as the highest retail rents in Downtown. The sandwich shop rented 1,200 Sq Ft and the gelato shop rented 1,000 Sq Ft on the ground floor of Centro. Newgard Development group purchased the 4,350 Sq-Ft ground floor located at 151 Southeast First Street in August 2016 for $615 per Sq Ft totaled to $2.65M. Centro unit prices range from $300,000 to $500,000. The developers began allowing owners to occupy condos in late July.