Christie Alexander |
ORLANDO, FL -- Crossman & Company, the Southeast’s premier
retail leasing, property management and investment sales firm, has announced
the sale of Summit Plaza II in a $2.8 million transaction.
The 28,437 square foot
center at 1015 State Road 436, Casselberry, Fla. was sold by Crossman &
Company client MMI Development.
Brian Carolan |
Summit Plaza II was 86 percent occupied with office and retail tenants at
time of the purchase including Allstate Insurance, Palma Maria Restaurant and
Aladdin’s Café.
MMI Development purchased Summit Plaza II in 2016, as part of a portfolio
with the intent of redeveloping a portion into a free-standing Wawa. The
Wawa is currently under construction and the sale represents the successful
execution of the seller’s original exit strategy.
“The property received significant interest given the visibility along SR
436 which sees over 60,000 cars per day. The new owner plans on
undertaking several capital improvement projects,” noted Carolan.
CONTACT:
Mike Bonts
Public Relations
(904) 424-6641
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