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| Jennifer Swanson |
ORLANDO, FL – JLL Capital
Markets announced it has closed the $2.75 million sale of Palmetto
Pointe, a 9,594-square-foot, Class A
retail strip center shadow anchored by a Walmart Neighborhood Market in the
Port Orange area of greater Daytona Beach, Florida.
JLL marketed the property on behalf of the
seller, Gatlin Development Company. An undisclosed private investor
purchased the asset.
 |
| Tarik Bateh |
Completed in 2016, Palmetto Pointe is home to high-quality
restaurant and service tenants and shadow anchored by a high-performing Walmart
Neighborhood Market.
Situated on 1.67 acres at 3801-3991 S Clyde
Morris Boulevard, the center is at the hard corner, signalized intersection of
Clyde Morris Boulevard and Madeline Avenue, exposing the center to
approximately 30,000 vehicles per day.
Palmetto
Pointe is in the fast-growing Port Orange community, with more than 62,600
residents within a three-mile radius of the center.
The JLL Capital Markets team representing the seller was led
by Senior Directors Tarik Bateh and John Krzyminski and
Associates Jennifer Swanson and Max Krzyminski.
 |
| John Krzyminski |
“Palmetto
Pointe presented a compelling investment opportunity for the buyer to acquire a
newly built, durable shopping center adjacent to a high-volume Walmart
Neighborhood Market in a fast-growing, coastal Florida community,” Bateh said.
“The sale of Palmetto Pointe is a testament that
well-located properties with solid fundamentals are still being sought after by
buyers and have both interest and the capacity to close,” Max Krzyminski added.
JLL Capital Markets is a full-service global provider of
capital solutions for real estate investors and occupiers.
 |
| Max Krzyminski |
The
firm's in-depth local market and global investor knowledge delivers the
best-in-class solutions for clients — whether investment advisory, debt
placement, equity placement or a recapitalization.
The
firm has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
For more news, videos and research resources on JLL, please
visit the firm’s U.S. media center Web page: U.S. newsroom.
About Gatlin Development Company, Inc.
Gatlin Development Company, Inc. (“GDC”), is a real estate
investment corporation specializing in retail shopping center development,
management and renovation.
 |
| Frank C. Gatlin III |
The
company was founded by Frank C. Gatlin III, CEO in 1976 with a mission
statement based on integrity, commitment, and experience.
The
principal of the GDC team possess decades of experience in retail development.
They also have extensive knowledge with respect to the development of custom
luxury homes, affordable single-family homes, apartment complexes, retirement
housing, hotels, light industrial buildings and self-storage facilities.
CONTACT:
Kimberly Steele
JLL Senior Associate
Public Relations
Phone: +1 713 852 3420
