MIAMI, FL – HFF announced today that it has been named to market for sale 400 Duval Street, a 32,199-square-foot, urban retail property in Key West, Florida.
HFF is marketing the property on behalf of the seller, a venture comprised of Longwharf Real Estate Partners and JBK Capital, LLC. The property is listed for sale without a formal asking price free and clear of debt.
400 Duval Street is situated in the heart of Key West on a 0.80-acre site at the hard corner of Duval and Eaton Streets. The multi-tenant property is fully leased to national tenants including Chico’s, Claire’s Boutique, RadioShack, Subway, Fresh Produce and Earthbound Trading Company, and has enjoyed a long history of strong occupancy and long-term tenure. Originally built in 1924, 400 Duval Street is the largest multi-tenant retail property with significant frontage along Duval Street.
The HFF investment sales team representing the seller is led by managing director Danny Finkle and director Luis Castillo. Claude Gardner of Prudential Knight & Gardner Realty is co-marketing the listing with HFF.
“400 Duval Street represents a unique opportunity to acquire a proven ‘high-street’ retail property with prominent national tenancy in one of the highest barrier to entry markets in the U.S.,” said Finkle.
“Key West’s global appeal and tourism draw combined with the strong tenant sales ranging from $570 to $720 per square foot at the property, and significant value creation potential, make this one of the most attractive offerings in the market today.
“ In-fill ‘high-street’ retail is an asset class that is currently in favor given its propensity to outperform the general market and this property should similarly benefit over the long term,”
Contacts:
DANIEL FINKLE LUIS CASTILLO
HFF Managing Director HFF Director
(305) 448-1333 (305) 448-1333
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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