MIAMI—As shopping center sales continue to heat up along the Florida coast, ownership of Rockledge Square Phase II has decided to cash out. The 100% leased retail center is strategically located in Brevard County.
Converted from an old Walmart box in 2007, ownership re-tenanted the 66,637 retail asset with Dollar Tree, Planet Fitness, and Badcock Furniture. Publix shadow anchors the property.
Michael Cleeman, vice president of Cohen Real Estate, the brokerage arm of Cohen Commercial Properties, is spearheading the marketing efforts on behalf of the owner. He says, “The strong traffic draw for the adjacent Publix and the mix of national and regional credit tenancy with great visibility and access provides long-term stability for a potential buyer of this asset.”
Rockledge Square Phase II has strategic exposure with 300 feet along U.S. Highway 1, the most highly traveled roadway in Rockledge. More than 34,000 cars pass in front of the retail center every day. Three curb offer access to Rockledge Square I & II from U.S. Highway 1.
Constructed in 1985, the retail property underwent a complete renovation in 2007 and received new upgrades such as façade and roof improvements. Cleeman says the shopping center is also being delivered free and clear of financing, which will allow a potential buyer to take advantage of the current financing market.