Pebb Enterprises has sold Shoppes of Delray for $5.1 million, marking the third South Florida property the Boca Raton-based private equity real estate investment firm has offloaded since July.

Under PEBB, occupancy is up 10%, and 119 new jobs were created by companies in the park in 2022. PEBB is leasing the Research Park’s space out in smaller, less expensive units.

In February, Pebb and BH teamed up with Chicago-based The John Buck Company and Miami-based Florida Value Partners to buy a downtown Miami mixed-use development site for $39.5 million.

Once PEBB learned that the Canadian-based owner was interested in selling, PEBB moved quickly to make the deal. The seller bought the building in 2003 for $15.2 million, which is the building’s ...

PEBB Enterprises of Boca Raton excels at the art of the turnaround, which is why the real estate firm was scouting for new deals in the Midwest.

South Florida-based PEBB Enterprises sold the fully leased Concord Station retail center for $15.2 million to South Coast Commercial.