Shoppes At Boca Greens Photo Gallery

West Boca Raton features a population of approximately 50,000 within a 3-mile radius, with 75% homeowners and a median age of 45, skewed toward families and retirees. Household incomes average $128,800 within 1 mile, supporting discretionary spending on retail and dining. Daily traffic on State Road 7 at 45,000 vehicles provides high visibility, though actual footfall metrics are estimated at 5,000-7,000 visitors per day based on similar neighborhood centers, driven by convenience shopping rather than destination traffic. Proximity to Boca Greens Country Club and residential developments enhances local draw, but limited public transit may restrict broader accessibility.

The center hosts a balanced mix of essential and convenience tenants, including banks, restaurants, and services, with Publix construction set to anchor and improve occupancy. Current vacancy is around 15-20% inferred from multiple available suites totaling over 30,000 square feet. Existing tenants provide synergy for everyday needs, but lacks high-end fashion or entertainment to compete with regional malls. Occupancy benefits from stable long-term leases in the area, though economic shifts could impact smaller independents. Overall, the mix supports reliable performance for service-oriented retailers in an affluent locale.

Asking rents for similar West Boca strip centers range from $22-32 per square foot NNN, with escalations of 3% annually and typical terms of 5-10 years. Advantages include flexible spaces and co-tenancy clauses tied to anchors like Publix. Risks involve competition from nearby centers such as Polo Club Shoppes and Somerset Shoppes, plus market saturation in food services. Aging infrastructure from 1984 build may require tenant improvements, increasing upfront costs. Broader Palm Beach retail shows robust demand but rising vacancies in non-anchored spaces due to e-commerce pressures, advising caution on lease commitments without traffic studies.