PEBB Enterprises and Banyan Development started construction on a project that will bring much-needed new retail and self-storage space to a prime corridor in the West Delray section of Delray Beach. The frequent joint venture partners are developing Atlantic II on nearly 10 acres at 8778 W. Atlantic Ave.
Atlantic II consists of a multi-tenant retail building with approximately 10,000 square feet, 100,000 square feet of self-storage and a car wash outparcel. The venture has the outparcel under contract for sale. It expects to complete the project by mid-2024.
Liberty Investment Properties is partnering with PEBB and Banyan on the development. Orlando-based Liberty has developed more than 65 successful self-storage assets across the U.S. since 1990. For Atlantic II, it is leveraging a recent strategic alliance with StoreEase Virtual Management to create an innovative, technology-driven experience for customers.
A lease with Paradise Grills to occupy 6,000 square feet of the retail building has been finalized.
“We are excited to further enhance West Delray with new retail offerings and self-storage space,” PEBB President and CEO Ian Weiner said. “The area’s housing boom has created a significant need for complementary commercial real estate, and our joint venture continues to identify opportunities to fill the void.”
PEBB’s nearby Plaza Delray, which was completed in 2021 and has 30,700 square feet of restaurants and service-oriented retail shops, is in close proximity to the Atlantic II site. The new project site is also near popular retail centers Delray Marketplace and the Banyan-developed Shop Delray.
“These centers are capitalizing on the incredible residential growth in Northwest Boca Raton and West Delray,” Banyan Development Principal Jason Sher said. “Our venture looks forward to building upon our market knowledge and successful West Delray portfolio with Atlantic II.”
For Atlantic II leasing inquiries, contact Chris Stewart at (561) 613-4020 or cstewart@pebbent.com or Jenny Schuemann at jschuemann@pebbent.com.
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.
