An affiliate of Boca Raton-based Predesco has a retail development site west of Boynton Beach under contract.
The Palm Beach County Commission will hold a zoning hearing July 28 for the 8.55-acre site at the northeast corner of Hypoluxo Road and Adonis Drive. The vacant site is just west of Military Trail.
The property currently belongs to Chimu Inc., managed by Roberto Datorre in Miami, but it’s under contract to PreLux LLC, managed by Rod Sheldon as the head of Predesco.
The County Commission approved a retail development at the site in 2015, but no development took place. PreLux submitted a new design for the shopping center.
It would total 49,888 square feet, including two drive-thru restaurants, a car wash, a fitness center and a multi-tenant retail building. The fitness center would be the largest building at 35,000 square feet. There would be 281 parking spaces.
Sheldon said he chose the location because it’s next to a Walmart Super Center and other strong retail tenants.
Bradley Miller of Urban Design Studio in West Palm Beach represents the developer in the application.
According to the second quarter report from Colliers International, the vacancy rate for Palm Beach County retail space was 4%, down from 5.1% in the same quarter a year ago. The average asking rent increased to $27.74 a square foot, from $23.90 a square foot. There was 423,473 square feet of retail under construction.
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