Saturday, July 29, 2017

Marcus & Millichap Brokers $6.5 Million Sale of Howell Branch Corners in Casselberry, FL

Douglas K. Mandel
CASSELBERRY, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Howell Branch Corners, a 14,765-square foot retail property located in Casselberry, FL, according to Ryan Nee, Vice President/Regional Manager of the firm’s Fort Lauderdale office.

The asset was 77 percent occupied at the time of sale and sold for $6,525,000 or $442 PSF.
Douglas K. Mandel, Senior Managing Director Investments, in Marcus & Millichap’s Fort Lauderdale office and Nicholas Hanson, Associate, in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a partnership, and secured and represented the buyer, a limited liability company.

Mandel states, “The transaction demonstrates the continued trend of capital inflow to Orlando from primary markets by investors seeking higher yields and the non-stop demand for quality retail assets throughout the MSA from out of area buyers attracted by the regions strong fundamentals and future growth potential.”

Howell Branch Corners is located at 2525 Howell Branch Road in Casselberry, FL.

Nicholas Hanson
Shadow-anchored by a Casselberry Commons, the property is located at the signalized corner of Howell Branch and Semoran Boulevard, one of the busiest thoroughfares in the Orland, offering tenants excellent exposure. 

Howell Branch Corners is a 14,765-square foot, premium retail plaza boasting national tenants such as Starbucks, BB&T and T-Mobile.

“Buyers are seeking premium assets in non-traditional-class A locations where they can achieve strong returns with the opportunity to add value,” continues Hanson.

For a complete copy of the company’s news release, please contact:

Ryan Nee
Vice President / Regional Manager, Fort Lauderdale

(954) 245-3400

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