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Prakas Group - Two Storefront Delray deals
Febrary 12, 2007

Palm Beach Post

Tom Prakas of The Prakas Group Inc. is smack in the middle of f'two storefront Delray deals hot enough to sizzle a sidewalk.

Faison & Associates sold 1,923 square feet at 250-258 E. Atlantic Ave. for $520 per square foot to an art dealer; 8,833 square feet at 270 and 290 E. Atlantic Ave. went for an only slightly less breathtaking $475 per square foot.

 

"I think we did set a new high for Atlantic Avenue," says Prakas, who brokered the deal for all par­ties involved.

An unabashed fan of Atlantic — his firm has handled real estate for 23 of the 26 restaurants on the avenue — Prakas says the retail and restaurant mix there is a foot-traffic magnet: "It has a farther draw than any other street in Palm Beach County."

Well, it drew him. Prakas has lived in the area for 18 years.

So does he get a break on the dinner bill from any of those 23 restaurants?

"The problem is when I walk in, employees think it's for sale. I just want to have lunch."

 

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