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| Ocean Walk Shoppes, 250 North Atlantic Avenue, Daytona Beach, FL |
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| Brad Peterson |
ORLANDO, FL –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the $7.65 million sale of
the iconic Ocean Walk Shoppes, a
110,646-square-foot, open-air movie theater-anchored entertainment and retail
center in Daytona Beach, Florida.
HFF arranged the sale on
behalf of the seller, an entity related to LNR Property. Dundas Real Estate Investment purchased the
asset free and clear of existing debt.
The six-story Ocean Walk
Shoppes features a 10-screen Paragon Theaters, Bubba Gump Shrimp Co., Sloppy
Joe’s, Wyndham Worldwide, Ker’s Winghouse, and Johnny Rockets in addition to
numerous successful shop tenants including Sunglass Hut and Cold Stone
Creamery.
Ocean Walk Shoppes is located at 250 North Atlantic Avenue in the heart
of Daytona Beach’s entertainment zone, or “E-Zone”, the commerce, entertainment
and leisure center of the region’s 9.5 million annual tourists.
The property is directly in front of the
5,000-person Daytona Beach Bandshell amphitheater and is situated between both
the 744-room Hilton Daytona Beach and the 710-room Wyndham Ocean Walk, two of
the region’s largest hotels.
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| Whitaker Leonhardt |
The HFF investment sales
team representing the seller was led senior managing director Brad Peterson and associate director Whitaker Leonhardt.
“Ocean Walk Shoppes
garnered tremendous investor interest due to its prominent location in a
well-known tourist area in the heart of the ‘World’s Most Famous Beach’,”
Leonhardt said.
“It was amazing how many
investors knew the asset from personal family vacations they had made to the
area. With a successful theater,
high-volume restaurants and proven shop tenants, Ocean Walk Shoppes will
continue to gain both tenant and customer interest.”
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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