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Robert Miller Sells Royal Palm Beach Retail Center for $39MM
Robert Miller has announced the sale of the Southern Boulevard Shopping Center for $39 million in February of 2007. This 300,000 square-foot shopping center located in Royal Palm Beach, Florida was developed by the CEO, Robert Miller in 1998.
Robert Miller planted its development roots in the Florida market with its work in the retail shopping center industry. The company focused on developing strategically located shopping centers that attracted traffic from high-growth and affluent cities. Robert Miller ensured that each of his properties was deliberately situated to draw traffic in, while offering eclectic mixes of national and regional tenants.
The sale of this shopping center signals the commencement of disposition of the company's shopping center assets in an effort to diversify into other product types. Robert Miller has refocused its development efforts, specifically with the development of the Legacy Resort in Osceola County, Florida, and The JupiterPointe Club & Marina in the Jupiter-Tequesta area of Florida.