Acadia doubles Palm Beach County retail holdings with $43M purchase

Acadia Realty Trust is expanding in Palm Beach County, picking up a prime retail property on Worth Avenue, the island’s storied shopping corridor where billionaire brothers David and Simon Reuben also recently made a splashy investment. White Plains, New York-based Acadia, led by Kenneth Bernstein, paid $43 million for the one-story, 9,900-square-foot building at 225 Worth Avenue, records and real estate database Vizzda show. The seller is an entity tied to Miami Beach-based JSB Capital Group, led by Jay Lobell.  The price amounts to $4,329 per square foot. In 2021, Aspen, Colorado-based investor Mark Hunt bought the building for $18 […]This article originally appeared on The Real Deal. Click here to read the full story.