CBRE as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Worthing Place, an iconic 6-story midrise community located in the heart of Delray Beach. This timeless asset is comprised of 217 residences with 12,229 SF of fully leased ground floor retail. Originally developed in 2010, there is a strong opportunity to continue and expand current ownership’s value-add program. To date, approximately 85% of the units have received new vinyl flooring, stainless steel appliance packages, new countertops, tiled backsplashes, upgraded plumbing and light fixtures and new paint schemes. CBRE believes there is an opportunity to expand upon the current renovation plan by adding electronic door lock systems, white cabinetry with new hardware, upgraded LED lighting and ceilings fans in the living room in 100% of the units, for a projected total return on investment of 26.5%.

Situated in a paramount position just off Delray Beach’s Atlantic Ave, the property has convenient access to world class restaurants, retail and is under 1 mile to the beach. Located on the ground floor of Worthing Place are Salt 7, a modern restaurant venue with a high-energy bar, Park Tavern, a charming brick walled American tavern and scratch kitchen, Cloud 10, an upscale blow dry bar and beauty salon and Two Fat Cookies, a boutique dessert bakery. The property’s premier location, connectivity, expansive amenities and history of institutional ownership make Worthing Place an exclusive opportunity to own a generational asset.