Delray Beach shopping center sells for $33 million

New Century Commons, a shopping center in Delray Beach, Florida, has been purchased by Menin Development for $33 million, according to a report in the Sun Sentinel.



Seller of the 84,551-sq.-ft. center was Linton 510 LLC, which faced uncertainty over the future of one of its anchors, Sports Authority, which filed for bankruptcy in March. Questions about cash flow going forward complicated the closing of the sale, though a Menin spokesman told the South Florida newspaper that several retailers have inquired about the Sports Authority space.



In its court filing, the once market-leading sporting goods chain said it would be forced to close all 463 of its locations if no white knight came to its rescue. Reuters reported that Dick’s Sporting Goods made an offer for 17 Sports Authority locations.



It’s nothing but good news for Dick’s, meanwhile. Goldman Sachs this week upgraded the retailer’s stock to its “Conviction Buy List,” a step above “Buy.”