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InvenTrust Properties expands in South Florida market with $88M buy

InvenTrust Properties Corp. paid $88 million to acquire the 120,000-square-foot PGA Plaza in Palm Beach Gardens, Fla., expanding its footprint in the South Florida market.

The pure-play retail company bought the grocery-anchored neighborhood center from Florida-based real estate developer Menin Development Inc.

The 95%-leased property is anchored by Trader Joe's, Marshalls and Ulta, and houses national tenants such as Verizon, Orangetheory Fitness and Chase Bank.