SRS Real Estate Partners has arranged the $11.8 million sale of Viera Colonnade Shops, a 27,051-square-foot retail strip center in Viera, FL. Located at 2328, 2338 and 2348 Citadel Way, the three-building property is 35 miles east of Orlando.
Patrick Luther and Matthew Mousavi of SRS represented the seller, an undisclosed developer based in Florida, in the transaction. The buyer was an unnamed private partnership comprised of domestic and foreign investors.
The center is currently fully occupied by 14 tenants, including UPS, Jersey Mike’s, Great Clips, Mattress One, and Blaze Pizza. All tenants recently signed new 10-year triple-net leases with options to extend. The site is also across from The Avenue Viera, a 525,000-square-foot, power center featuring World Market, Bed Bath & Beyond and Michaels.