Crossman & Co. Completes $2.8 Million Shopping Center Sale in Casselberry, FL

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 

Crossman & Company Managing Director Brian Carolan and Director of Brokerage Services Christie Alexander represented the seller.

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.

Suleiman Musallam of Lababidi Realty Group represented the buyer.

Summit Plaza II, a 28,437-SF center at 1015 State Road 436, Casselberry, FL

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.   

For more information contact marketing coordinator Andrea Paredes at  (407) 581-6246 or aparedes@crossmanco.com or visit www.crossmanco.com.

 CONTACT:

Mike Bonts

Public Relations

(904) 424-6641