ComNet Realty sells Delray Beach shopping center for $16M

ComNet Realty sold a Delray Beach shopping center for $16.2 million to the owner of a New York-based grocery chain. An entity managed by Eduard Shnayder, founder of NetCost Market, acquired Peachtree Plaza, a 63,176-square-foot shopping center at 5850 Atlantic Avenue and an adjacent outparcel, records and real estate database Vizzda show. The buyer partially financed the purchase with a $7.7 million loan from Southstate Bank. The deal breaks down to $245 a square foot.  An affiliate of Delray Beach-based ComRealty, led by CEO Harry Zuker, bought  the 7.3-acre retail site for $3.4 million in 2007, records show. Peachtree Plaza […]This article originally appeared on The Real Deal. Click here to read the full story.