 |
| Douglas K. Mandel |
CASSELBERRY,
FL – Marcus & Millichap (NYSE: MMI),
a leading commercial real estate investment services firm with offices
throughout the United States and Canada, announced the sale of Howell Branch Corners, a 14,765-square
foot retail property located in Casselberry, FL, according to Ryan Nee, Vice
President/Regional Manager of the firm’s Fort Lauderdale office.
The asset
was 77 percent occupied at the time of sale and sold for $6,525,000 or $442
PSF.
Douglas K. Mandel, Senior Managing Director
Investments, in Marcus & Millichap’s Fort Lauderdale office and Nicholas Hanson, Associate, in Marcus
& Millichap’s Orlando office, had the exclusive listing to market the
property on behalf of the seller, a partnership, and secured and represented
the buyer, a limited liability company.
Mandel
states, “The transaction demonstrates the continued trend of capital inflow to
Orlando from primary markets by investors seeking higher yields and the
non-stop demand for quality retail assets throughout the MSA from out of area
buyers attracted by the regions strong fundamentals and future growth
potential.”
Howell
Branch Corners is located at 2525 Howell Branch Road in Casselberry, FL.
 |
| Nicholas Hanson |
Shadow-anchored
by a Casselberry Commons, the property is located at the signalized corner of Howell
Branch and Semoran Boulevard, one of the busiest thoroughfares in the Orland,
offering tenants excellent exposure.
Howell Branch Corners is a 14,765-square
foot, premium retail plaza boasting national tenants such as Starbucks,
BB&T and T-Mobile.
“Buyers are
seeking premium assets in non-traditional-class A locations where they can
achieve strong returns with the opportunity to add value,” continues Hanson.
For a complete copy of the company’s news release,
please contact:
Ryan Nee
Vice President / Regional
Manager, Fort Lauderdale
(954) 245-3400
No comments:
Post a Comment