ATLANTA (June 18, 2019) – SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of Four Townes Shopping Center located in Orange City, Fla. The property is located at 2412-2460 South Volusia Avenue, near the signalized intersection of South Volusia Avenue and Enterprise Road, and benefits from a combined traffic count of 44,500 vehicles per day. The community center consists of 102,854 square feet and is situated on 18.91 acres of land. The property is positioned on a triangular lot with ample access and excellent visibility from the two major traffic corridors. It is roughly 98 percent occupied by anchor tenants Big Lots, Aaron’s and O’Reilly Auto Parts along with national tenants including CiCi’s Pizza, Advance America, and Boost Mobile. The seller, Four Townes, LLC, sold the property on May 24, 2019 for $10 million to Millstone Commercial, LLC.
“We were pleased to generate 11 quality offers for Four Townes, said Kevin Yaryan, senior vice president, Investment Properties Group. “This allowed us to hone in on the buyer most well-equipped to take this property into the next phase of its life cycle.”
Kevin Yaryan, senior vice president of SRS’ Investment Properties Group in the Orlando office, along with Kyle Stonis, managing principal, and Pierce Mayson, principal, of the Investment Properties Group in the SRS Atlanta office, brokered the 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.