Abacoa Town Center finally changed hands for an amazingly reasonable number of $5.1 million dollars, which comes to just over $55 per square foot. While it is 30% vacant, at this number the new local owners could afford to do deals at very aggressive numbers and still make money. I think that the timing might finally be right for this special little area that comes alive every March for spring training baseball for a 5 week period every year. The new movie theater/bowling alley is going to open this year, making it the only thing of its kind in the area. It will surely draw families and people looking for entertainment. A new 350,000 square foot shopping center is going to be built across the street. Jupiter’s first brewing company, Civil Society Brewing Co., will be opening there this year. But more important than anything else, the 300 apartment Allure is opening, bringing badly needed population here to support the businesses at Abacoa. Finally, there is the new 128 room Courtyard Marriot, allowing for possibilities of more tourism other than the spring training crowd. This is a great little area with what I think is a perfect mixed use community. It is safe, quiet, close to the highway but will never have thriving businesses until you have enough people living there to support them. After all these years I think it is finally coming together and I couldn’t be happier. As always thanks for reading and have a great day.
Abacoa booming, but will people come?
http://www.mypalmbeachpost.com/news/news/abacoa-booming-but-will-people-come/nkbWN/#db211d36.3711057.735698
No comments:
Post a Comment