PEBB Enterprises and Banyan Development Acquire 10 Acres for Future Project in Delray Beach
Atlantic Avenue land is adjacent to PEBB and Banyan’s existing retail developments
DELRAY BEACH, FL – Dec. 23, 2020 – PEBB Enterprises and Banyan Development are teaming up once again. The companies purchased nearly 10 acres for a future commercial project in the rapidly growing West Delray section of Delray Beach.
The land is located at 8778 W. Atlantic Ave. – adjacent to PEBB’s Plaza Delray development and Banyan’s Shop Delray retail center. PEBB and Banyan closed on the $2.1 million acquisition on Dec. 21, 2020.
Plans for the new development will be announced in early 2021. In the meantime, PEBB is nearing completion of Plaza Delray.
“Expanding our relationship with Banyan through this new property acquisition in Delray Beach is a fantastic way to wrap up the year,” PEBB Enterprises President and CEO Ian Weiner said. “The development of this site in the years to come will address the continued demand from retailers, restaurants and other commercial businesses in West Delray.”
PEBB and Banyan are also developing the mixed-use Mainstreet at Boynton project in Boynton Beach.
“We are excited to partner with PEBB again and bring additional first-class commercial space to West Delray,” Banyan Development Principal Jason Sher said. “The area has grown so much over the past few years and is poised for further expansion in the years ahead.”
US Landvest Corp. sold the property to PEBB and Banyan. Tom DiBucci of Kingdom Living Properties represented the seller in the transaction.
About PEBB Enterprises: Based in Boca Raton, FL, PEBB Enterprises is an entrepreneurial, full-service private equity real estate investment company. PEBB has operated as a family-owned business for more than four decades and takes pride in the company’s team of forward-thinking associates who continue to push and expand PEBB’s growth on a daily basis. PEBB has an unparalleled track record of acquiring and developing high-quality neighborhood, regional and power shopping centers, as well as suburban office buildings. The company’s vast portfolio includes properties in Florida, Texas, Nevada and numerous Midwest and Southeast states. For more information, visit https://pebbenterprises.com/.
About Banyan Development: Banyan Development is a real estate investment company focused on commercial development in the state of Florida. Banyan and its principals have investments throughout the US that include retail, industrial, medical office, residential & multi-family assets. For more information visit www.banyandev.com.