Fort Lauderdale, FL (August 29, 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.
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 25 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 www.srsre.com.
SRS’ National Net Lease Group (NNLG) is a unified platform of seasoned net lease professionals located and transacting nationally with all underwriting and marketing efforts strategically located in Southern California. In 2018, the group completed more than 300 sales across more than 35 states and has over 50 NNLG professionals nationally. From proactive sales to targeted acquisitions and tailored debt and equity solutions, SRS’ National Net Lease Group offers comprehensive services to net lease owners and investors. Superior speed-to-market, world-class marketing materials, a deep investor database and unparalleled retail submarket intelligence from the entire SRS platform allow SRS’ National Net Lease Group to deliver the best possible returns. For more information, please visit srsnnlg.com.