Friday, March 1, 2019

Marcus & Millichap Arranges $6 Million Sale of Altamonte City Center in Altamonte Springs, FL


Altamonte City Centre, 887 East Altamonte Drive
 Altamonte Springs, FL

Ray Turchi
ALTAMONTE SPRINGS, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Altamonte City Centre, a 26,526-square foot retail property located in Altamonte Springs, FL, according to Justin W. West, regional manager of the firm’s Orlando office. 

The asset sold for $6,025,000.

Chris Travis
Ray Turchi, Chris Travis and David Vaughan, investment specialists in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a private investor. 

 The buyer, a private investor also, was secured and represented byScott Gould and Rory Shelby, investment specialists in Marcus & Millichap’s Orlando office as well. 

Altamonte City Centre is located at 887 E Altamonte Dr in Altamonte Springs, FL.  Altamonte City Centre consists of a two-building fully-occupied 8,338 rentable square foot retail strip and a 18,200 rentable square foot office building. 

David
Vaughan
Scott Gould
The retail strip is fully-occupied by: Fairwinds Credit Union, Tijuana Flats and Huey Magoo’s. 

The office building is leased to AdventHealth. Florida Hospital and Fairwinds Credit Union joined Altamonte City Centre in 2018, Tijuana Flats since 2008, and Huey Magoo’s since 2015. 

All tenants are on Triple-Net leases. Altamonte Drive has a traffic count of 58,500 vehicles daily. 

Rory Shelby
It connects the subject property to the Interstate 4 interchange, US 17-92 and SR 434. Interstate 4 interchange is less than two miles west from subject property. 


Interstate 4 is a main thoroughfare which connects property to Daytona Beach to the North and Tampa to the Southeast.


Contacts:

Justin W. West
Vice President / Regional Manager, Orlando
(407) 557-3800


Ocea Huggins
Operations Manager – Orlando and Jacksonville
Marcus & Millichap
300 South Orange Avenue
Suite 700
Orlando, FL 32801
(407) 557-3840 direct
(407) 557-3800 main
(407) 927-0313 mobile
(407) 557-3810
ocea.huggins@marcusmillichap.com



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