Fort Lauderdale, FL (December 18, 2023) – SRS Real Estate Partners announced today it has completed the $6.19 million sale of Apollo Beach Shoppes, a 9,000-square-foot fully occupied retail center that completed construction in the fall of 2023. Situated on 1.91 acres, the property is located at 6588 N. U.S. Highway 41 Building A in Apollo Beach, FL. The three-tenant property includes Trulieve, AT&T and Tijuana Flats.
SRS Capital Markets Executive Vice President & Market Leader, Patrick Nutt, Senior Vice President William Wamble, and Associate Daniel Becker who are based in Fort Lauderdale and Tampa, FL represented the seller, a Florida-based investment and development group. The buyer, a Florida-based private investor, was in a 1031 exchange. The property sold at a 6.3% cap rate.
“After vetting multiple offers, we secured a repeat buyer for the property who was in a 1031 exchange which provided the seller with the security of a quick close of escrow,” said Wamble. “We were also able to help the buyer obtain financing on the property despite challenging conditions in the debt market.”
The property is situated near Highway 41 and is within SouthShore Sports Sportsplex, a new 84-acre complex that features four athletic fields that support a variety of recreational sports and activities. The development also includes offices, meeting space, and parking for more than 500 vehicles.
Year-to-date, SRS Capital Markets has completed nearly $2 billion in deal volume comprised of 403 transactions in 43 states. SRS currently has in excess of 660 properties actively on the market with a market value surpassing $3 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with more than 25 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.