September 3, 2019 – SRS Real Estate Partners’ Investment Properties Group has completed the approximately $5.73 million sale of a four-tenant, 10,250-square-foot retail center fully occupied by First Watch, Firehouse Subs, Pacific Dental and The Original Mattress Factory at 1765 Dunlawton Avenue in Port Orange, FL.
SRS’ National Investment Properties Executive Vice President Patrick Nutt and Connor Barton represented the seller, a Florida-based retail developer. The buyer, a California-based investor, was represented by Ron Pelleg.
“This asset was highly sought after in the marketplace, as it is located directly off of Interstate 95 and is an outparcel to a Super Target and Lowe’s-anchored retail center. SRS secured a strong buyer within 22 days of hitting the market,” said Barton.
The property is new construction with the tenants opening their doors in 2018 and 2019. Additionally, the all the tenants are on long-term 7- and 10-year leases. The property is within a five-mile radius of more than 100,000 people and is just eight miles from Daytona Beach.
SRS’ Investment Properties Group and National Net Lease Group successfully completed more than 300 sales in 2018, across 35 states nationwide, and has over $1 billion in assets currently listed for sale.