By Brian Bandell – Real Estate Editor, South Florida Business Journal Sep 11, 2026
Story Highlights • Redfearn Capital bought two Delray Beach buildings for $38.2 million. • A legal settlement between the sellers triggered the property auction. • The sale price reached $1,640 per square foot.
Redfearn Capital acquired a retail and office building on Delray Beach’s popular Atlantic Avenue for $38.2 million after winning an auction.
DHBH Atlantic LLC, managed by William B. Himmelrich in Gulfstream, and 60 ½ LLC, led by Beverly Hosokawa, sold the 23,290 square feet of retail and restaurant space at 105 and 111 E. Atlantic Ave. to Delray Beach-based Redfearn Capital, according to attorney Ronnie Bronstein of Mansfield, Bronstein & Stone, which represented one of the sellers at closing. He said the auction resulted from a legal settlement between the two sellers. A lawsuit between the two sellers over a partnership dispute was settled in 2024, according to county records.
Don Ginsburg of Katalyst Real Estate & Development represented seller Hosokawa in the sale, while Mike Ciadella of Cushman & Wakefield represented Himmelrich.
"An auction sale of this size and speed shows just how much demand there is for a well-located commercial property in Delray Beach," Bronstein said. "Both sides were well served by an efficient, transparent process that delivered a strong market outcome."
Ginsburg said the retail space is fully occupied with the Tramonti Restaurante, Sloan’s Ice Cream, and Geronimo Tequila Bar and Southwest Grill. Plus, one of the two office spaces on the second floor is leased out, he said.
Ginsburg said the price per square foot of $1,640 is one of the highest ever for Atlantic Avenue, and the cap rate is also among the lowest ever. That speaks to the popularity of Atlantic Avenue as a retail and dining destination, he said.
These retail buildings were constructed in 1952 and 1971 on a 0.38-acre lot. This is the first time they have sold in more than 25 years.
As for the buyer, Alex Redfearn has been active making deals lately. His company purchased a nearby building at 131 E. Atlantic Ave. for $10 million in 2025. Redfearn recently flipped a retail building on Palm Beach for a big profit, and the firm was part of a $628 million industrial deal across seven states.
See original article here: https://www.bizjournals.com/southflorida/news/2026/09/11/downtown-delray-retail-property-sold-at-auction.html
