Gucci-Leased Building at 225 Worth Avenue Sells for $43 Million — A Record $4,329 Per Square Foot That Makes Palm Beach’s Premier Retail Block the Most Expensive in Florida

A 9,932-square-foot retail building at 225 Worth Avenue — leased to Gucci, J. McLaughlin, and G/Force — has sold for $43 million, recording on March 31 in Palm Beach County. The buyer is Acadia Realty Trust, a New York-based REIT that specializes in high-street luxury retail acquisitions. The price translates to $4,329 per square foot, which CoStar’s national director of retail analytics has identified as the highest per-square-foot price ever paid for a retail asset over 10,000 square feet in the Palm Beach market.

The deal was arranged by Adirondack Capital Partners. The seller was Miami Beach-based JSB Capital Group, which acquired the same property in 2021 for $18 million — meaning the asset more than doubled in value in five years. The 0.3-acre complex sits on the 200 block of Worth Avenue, with 89 feet of frontage along what brokers describe as the corridor’s fashion epicenter. Gucci’s tenancy anchors the block’s luxury positioning; J. McLaughlin and G/Force fill the remaining retail bays.

The $43 million sale is the clearest pricing data point yet for Worth Avenue retail as an investment asset class. At $4,329 per square foot, the property now trades above comparable Rodeo Drive acquisitions in Beverly Hills and within range of the most liquid blocks on Madison Avenue in Manhattan. Worth Avenue rents have experienced significant year-over-year growth as the influx of ultra-high-net-worth residents and businesses relocating to Palm Beach has restructured demand — and the Acadia purchase locks in that repricing in permanent, transaction-level terms.

Acadia Realty Trust’s acquisition fits a deliberate portfolio thesis. The REIT concentrates on urban and street-retail properties where tenants are luxury-brand flagships with long-term leases, generating stable income streams from tenants that cannot be displaced by e-commerce. A Gucci-anchored building on Worth Avenue’s 200 block is precisely that profile: the brand has no online substitute for its physical retail presence in a market where 58 resident billionaires and a $12.9 million median single-family sale price define the customer base.

The transaction also signals something broader about Palm Beach’s trajectory as a luxury retail destination. Worth Avenue is a 0.4-mile corridor. Its total leasable retail inventory is finite and largely controlled by long-tenured landlords who rarely sell. When a property on the 200 block does change hands — as it did here — it sets a new floor for the entire street. Brokers working the corridor will now reference $4,329 per square foot as the baseline for any Worth Avenue negotiation until a higher comp is recorded.

For collectors and asset holders in the Palm Beach market, the Gucci building sale functions as a proxy for the collateral value of Worth Avenue retail tenancy. The Acadia acquisition has, in effect, published a market price for the most coveted address in Florida retail: $43 million for 9,932 square feet, full stop. The deal is the largest single-asset retail transaction in Palm Beach County in 2026 and is already cited in Acadia Realty Trust’s Q1 2026 earnings disclosures as a strategic addition to its street-retail portfolio.

The Esplanade — Worth Avenue’s anchor block, repositioned by Reuben Brothers this spring with new ground-floor storefronts and a full Saks-parcel redesign — adds further depth to the corridor’s investment case as institutional capital validates the street’s long-term premium. The Reuben Brothers repositioning and the Acadia acquisition, taken together, constitute the two most significant ownership-level moves on Worth Avenue in a single season.

From the Borro desk: For the national luxury asset market context, see Behind the Marquee: How the May 2026 Auction Calendar Actually Works.