PALM BAY, FL-Palm Bay West, a 263,356-square-foot shoppingcenter constructed in 1989, has sold for $14.25 million in an allcash deal. The property is 91% leased.
Plaza Advisors Co-managing Partners Jim Michalak and AnthonyBlanco, together with Senior Financial Analyst Lenard Williams,represented the seller, Edens & Avant, a private real estateinvestment company in Colombia, S.C. The buyer was an undisclosedNew York-based private investor.
Michalak tells GlobeSt.com that the deal is interesting becauseof the sheer square footage and its location in a secondary marketwith long-term tenants that enjoy strong shopper loyalty. Majortenants include Winn Dixie, Beall’s Department Store, Ace Hardware,Dollar Tree, and a 10-screen theatre.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
