SEBASTIAN, FL-A private investor has acquired the 54,508-sfShops at Sebastian shopping center on Sebastian Boulevard for $10.2million. The sale was made as part of a 1031 exchange.
The seller was Blue Ribbon Crabapple LLC, which was representedby the Colliers Spectrum Cauble Retail investment sales team of JoeMontgomery, Tony D'Ambrosio and Mike Milano. “The seller is anAtlanta-based developer that built the property and sold it withina year of its development,” Montgomery tells GlobeSt.com. “Thevalues and pricing of the center exceeded the seller's expectationswhen the project was first conceived.”
The center, constructed in 2006, is anchored by a 39,000-sfPublix grocery store and was 97% leased at the time of the sale.Other tenants in the property include Beef O'Brady's, CingularWireless and Subway.
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.
