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DELRAY BEACH,
FL Athan “Tom” Prakas, president/broker of
The Prakas Group, Inc., a full service real estate brokerage specializing in
commercial transactions, business brokerage, restaurants and hospitality
properties, has reported the completion of a property sale, business sale and
one lease transaction in recent activity in Palm Beach County.
Christian Prakas, restaurant/nightclub
specialist, was exclusive broker for the following three
transactions:
*Select
Investment Properties has purchased a 2,800 SF building located at
19-23 SE 5th
Avenue, Delray Beach, FL. The building is presently 75% leased
including an insurance company and BluIce
Lounge, a new martini lounge. The sale is valued at $1,250,000. The Prakas
Group, Inc. represented both the buyer and the sellers, Joseph Peraino and Frank
Carucci of Joe’s Pub Corp.
* Khoury Synergy has purchased the 1,500 SF BluIce Lounge located at 19 SE 5th Avenue,
Delray Beach, FL. BluIce Lounge is a chic lounge serving
Mediterranean themed dishes and crepes along with a full liquor bar. The sale is
valued at $175,000. The Prakas Group, Inc. represented the buyer as well as the
seller, Taylor Smith of On The Rocks.
According to Christian Prakas, “This is an
excellent location in Delray
Beach, right on the corner of Atlantic Avenue and
Federal
Highway. It’s a treasure-trove for any business
seeking maximum exposure on one of the hottest strips in Palm Beach County.”
*Boca Tanning Club Deerfield, Inc. has leased 1,700 SF of retail space for Boca Tanning Club, an upscale tanning
salon, located at 215 N. Federal
Highway, Boca Raton, FL. The company has been in business for
five years and has three other Florida
locations including one in Boca Raton, Fort Lauderdale, and West Palm Beach. The deal is valued at
$215,000. The Prakas Group, Inc. is exclusive broker for Boca Tanning Club for
all of South Florida. The Prakas Group, Inc.
represented the lessee. The lessor, Investments Limited, represented
themselves.
The Prakas Group, established in 2000, is on track
to close over $300 million in sales over a six-year period. Headquartered at
705 East Palmetto Park
Road in Boca Raton,
FL, The Prakas Group provides brokerage
services for restaurant, nightclub and commercial properties throughout
Palm Beach, Broward and Dade counties, and
Orlando.
Principals of The Prakas Group add depth to the firm’s brokerage services with
over 200 years of combined experience in the restaurant/nightclub industry as
owner/operators. Clients of The Prakas Group include Taverna Opa, Buckhead Life
Restaurant Group, Gusto’s Grill & Bar, Burton Handelsman, MDN Properties,
Rodney Mayo, Tarpon Bend Restaurants, Gotham City, Dave Manero Restaurants, and
Mama Mia’s, just to name a few. For more information, contact The Prakas Group
at (561) 368-0003, or visit the company’s website at www.prakasgroup.com.
Originally posted 2007-07-17 00:00:00. Republished by Blog Post Promoter