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Konover South has begun construction on a new retail center, Coconut Crossing, in Palm Beach Gardens. The project was made possible by securing a $26.7 million construction loan.
According to the S. Florida Business Journal, City National Bank of Florida initially provided a $7 million loan for DKC Coconut Crossing in 2021 but increased it to $26.7 million now. This funding will cover the development of the 30.2-acre property located at 12500-12950 Northlake Blvd., which is situated just south of Avenir – an upcoming community with thousands of homes.
Construction on the retail center is being carried out by C.E Gleeson Constructors.
Coconut Crossing will feature three main buildings and seven outparcel buildings spanning over 82,521 square feet for various retailers such as Aldi, Starbucks, Wendy’s and Fifth Third Bank.
The developer acquired this property for $14 million back in 2021 and has already invested heavily in this area with another retail center currently under development called Westlake located just south of Palm Beach Gardens.
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