The Ray Shops

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Properties for Lease

The Ray Shops

Address

245 NE 2nd Ave
Delray Beach, FL 33483
United States
(View Map)

Property Type: Retail
Base Rent: $75-$80/PSF Negotiable
Listing Status: Active

Contact Info

Gary Broidis
Cell: 561-703-9298
Gary@atlanticcg.com

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Property Description

The Ray Shops are located in Pineapple Grove, the vibrant restaurant and retail street immediately north of Atlantic Avenue.  The Ray Shops are immediately adjacent to The Ray Hotel with ample parking and walking distance to Atlantic Avenue. Perfect for a small boutique, art gallery and many other retailers, this property offers a great opportunity to locate your retail business in the dynamic and bustling downtown Delray Beach market.  Small retail spaces are extremely rare in the downtown Delray Beach market.  Akira Back, Campi and The Rosewater Grill (all located at The Ray Hotel) are only steps to the south of this property.  Additionally, the restaurants, Papas Tapas and Christina’s (closed recently), have been operating at this property for almost 20 years.

Location Description

This property is located directly on NE Second Avenue, in the heart of Downtown Delray Beach. Located just north of Atlantic Avenue, this property sits directly across the street from City Walk and adjacent to The Ray Hotel.  Surrounding this property is dense residential properties including apartments and single family homes and 2nd Avenue is a high traffic pedestrian block in downtown Delray Beach.

Additional Information Site Highlights
County: Palm Beach
Shopping Center GLA: 12,500 SF
Operating Expenses: $25.00/PSF
Min. Divisible Space: 350 SF
Max. Contiguous Space: 1,202 SF
Total SF Available: 4,252
Lot Size: .81 Acres
  • $75-$80/SF Negotiable + $25.00/SF (Operating Expenses)
  • Walking Distance to Dozens of Restaurants, Bars and Retailers
  • Great Visibility and Frontage on the Avenue
  • Immediately adjacent to The Ray Hotel, a Hilton Curio branded hotel
  • Across the street from City Walk, a retail and residential complex
Recent News

Office Space Requirements Tumble in April as Markets React to Tariff Uncertainty

Tenant demand for office space took a sharp downturn in April 2025, echoing the steep declines seen during the 2023 banking crisis, according to VTS Data. Leasing activity dropped in 17 of 19 major markets, with a 23.2% fall in tenant inquiries and a 26.4% plunge in square footage — the steepest since 2021. Analysts link this slowdown to economic uncertainty following new U.S. tariff policies. While some markets like Austin and suburban Maryland showed resilience, others, including Boston and Silicon Valley, were hit hard. Despite the grim numbers, history offers hope: office demand rebounded quickly in 2023, suggesting a similar recovery could be on the horizon — if policy conditions stabilize.

Franchise Group exits Chapter 11

Franchise Group has officially emerged from bankruptcy as a leaner, debt-restructured company focused solely on two core brands: Pet Supplies Plus and Buddy’s Home Furnishings. After selling The Vitamin Shoppe and shuttering American Freight, the company has rebranded under a new parent entity, Fusion Parent, with the same leadership team in place. This streamlined structure allows the company to refocus on growth, with over 200 new franchise agreements already signed. While the path forward looks more stable, experts note that both remaining banners must sharpen their competitive edge to thrive in a challenging economy.

At ICSC Las Vegas, the resounding cry was ‘Tariffs-Schmariffs'

Tariffs be damned — retail is moving full steam ahead. Despite all the buzz about tariffs at this year’s ICSC Las Vegas, developers and retailers are largely shrugging off the uncertainty. Industry leaders say retailers simply can’t afford to pause expansion, with store openings planned years in advance. The consensus? Tariffs are just another hurdle, not a deal-breaker. Strong sales, aging store fleets, and limited high-quality retail space are driving urgency. Retailers with diversified supply chains are best positioned to weather the storm, and investor appetite remains strong as lenders return to the sector. As one exec put it: “We need 50 new stores — let’s go.”