ATLANTA (June 6, 2019) – SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of Clermont Regional Center located in Clermont, Fla. The established community center, built in 1994 and recently renovated in 2018, consists of 191,946 square feet and is situated on 22.61 acres of land. It is roughly 99 percent occupied by anchor tenants At Home and Fitness CF along with national and local tenants including Pet Supermarket, Napa Auto Parts, Avis Budget Car Rental, GNC, Jackson Hewitt, Boost Mobile, CosmoProf and more. The property is located at 1002-1086 East Highway 50, at the signalized intersection of Highway 50 and South Grand Highway, just east of South Highway 27, and benefits from traffic count of 47,000 vehicles per day in front of the property. The seller, Clermont Regional Investors, LLC, sold the property on May 21, 2019 for $18 million to R & M Retail, L.P.
“We were thrilled to transact again with a familiar buyer who continues to target stabilized retail product in the Orlando area,” said Daniel Earles, senior vice president, Investment Properties Group. “Central Florida continues to garner ample interest from the investment community.”
Kyle Stonis, managing principal, and Pierce Mayson, principal, of the Investment Properties Group in the SRS Atlanta office, along with Steve Miskew, managing principal, of the Investment Properties Group in the SRS Fort Lauderdale office, and Daniel Earles, senior vice president, of the Investment Properties Group in the SRS Tampa office, represented the seller in the transaction. The buyer was self-represented in this transaction.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.