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| Marc Strauss |
GULF BREEZE, FL – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, has retained the exclusive right to market for
sale the Sea Shell Collections Shopping Center, a 89,175-square-foot Publix-anchored shopping center in Gulf Breeze,
Fla.
The $23 million listing
price equates to $258 per square foot.
“An investor will see upside by
leasing the 6,750 square feet of vacant space and the three outparcels,” says Marc
Strauss, first vice president investments in
Marcus & Millichap’s Fort Lauderdale office. Strauss is representing the
seller, Sea Shell Collections LLC.
Built in 2008, the center is approximately 56 percent anchored
by Publix and Publix Liquor, which is signed to retain tenancy through 2028.
Supercuts, ReMax, Smoothie King, Marble Slab, Rotolo’s Pizzeria and Roly Poly
are among the property’s national tenants.
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| Sea Shell Collections Shopping Center, Gulf Breeze, FL |
A recently opened Panera
Bread restaurant is an outparcel tenant but is not a part of the offering.
The
shopping center is situated on 14 acres with direct access from U.S. Route 98
at 852 Gulf Breeze Parkway in Gulf Breeze on Pensacola Bay across from
Pensacola.
The property has several
points of ingress and egress and 459 parking spaces. The traffic count is
63,000 cars per day.
“Although Panera Bread is
not included in the offering, it is important to note that the restaurant’s
sales are above anticipated projections,” Strauss adds. “Panera’s success
should encourage future outparcel tenants and has substantially increased
traffic to the shopping center.”
The offering includes
three outparcels that are 0.5 acres, 0.95 acres and one acre in size. Average
household income in the area exceeds $104,000 within a one-mile radius and
$112,000 within a three-mile radius.
The Gulf Breeze economy
is driven by industry, tourism and retirement. Employment in the area is strong
and unemployment is approximately 3.12 percent.
For a complete copy of the company’s news
release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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