Michaels Signs Lease for 25,600-Square-Foot Store in the Delray Corner Center at Military Trail and Atlantic Avenue in Delray Beach, Florida

Katz & Associates’ Nicole Fontaine Represented Delray Corner Owner in the Michaels’ Negotiations

September 14, 2023

Englewood, NJ, September 14, 2023 – Arts & crafts retailer Michaels is coming to Delray Corner in Delray Beach, Florida. Katz & Associates’ Nicole Fontaine represented the owner through Berta Management of Florida. With this lease, Delray Corner (formerly known as Bed Bath & Beyond Plaza) will achieve over 97% occupancy. Bryan Fetherston of The Shopping Center Group represented Michaels in the 10-year, 25,600-square-foot lease. Michaels is slated to open around Q1 2024 (subject to change).

Delray Corner, with 86,000 square feet, has had robust leasing over the past five years with the highly visible and dramatic CVS building marking the southeast corner of Atlantic and Military. Starbucks opened in 2022 and has become an anchor of Delray Corner along Atlantic Avenue. Conviva, a Humana primary care subsidiary, has leased 10,000 square feet, and Mathnasium, a national franchise tutoring center, has leased 1,200 square feet. Both are anticipated to open Q1 2024. Together with the six locally owned restaurants/gourmet food retailers making up “Restaurant Row,” Delray Corner boasts visibility and location at one of the highest traveled retail corners in Palm Beach County. This configuration of tenants responds to the population density and mix of residents in Central and West Delray.

One 2,000-square-foot space remains available at Delray Corner; seeking a dry retail user. Contact Nicole Fontaine and Leandro Pereira with interest: nicolefontaine@katzretail.com; leandropereira@katzretail.com.

“The area boasts a dense population of young families and retirees who enjoy creating with arts and crafts, so Michaels is a great fit for the space,” shared Nicole Fontaine, Vice President, Katz & Associates. “We understand there was a demand for this use and wanted to make it a reality for Central and West Delray residents.”

Katz & Associates began operations in January of 1996. The company currently maintains offices in New York City, Charlotte, Boca Raton, Nashville, New Jersey, Orlando, and Chicago. Katz & Associates’ primary focus is assisting retailers, restaurants and landlords in all capacities including strategic planning, market analysis, lease and sale negotiations and dispositions. Our team of seasoned veterans has decades of experience and invaluable market knowledge.

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