SRS Real Estate Partners announced today it has completed the $5.29 million sale of Shoppes at Hunt Club, an 8,211-square-foot (sf) retail property located at 3301 E. Semoran Boulevard in Apopka, Florida. Built in 2006 and situated on 1.48 acres, the property is fully occupied by four tenants including Firehouse Subs, Smoothie King, Spectrum, and MUV Dispensary.
SRS Capital Markets Executive Vice President & Principal William Wamble and Senior Managing Principal Patrick Nutt represented the seller, a Florida-based national investor and developer. The buyer was a Florida-based private investor who was in a 1031 exchange. The closing cap rate was 6.17%.
“We were pleased to assist in the seller’s execution of a value-add strategy at this location. Over the course of its 33-month repositioning period, the seller signed a new lease and extended the lease term for every existing tenant at the property,” said Wamble. “Once stabilized, we sold the property to a private 1031 investor who has been seeking passive, cash-flowing assets in the growing Orlando area.”
Hunt Club is strategically located at the signalized intersection of East Semoran Boulevard and South Hunt Club Boulevard. It is adjacent to Club Corners, a 105,000-sf Publix-anchored neighborhood center with other nearby retailers including Walmart Neighborhood Market, and Sprouts, among others.
Last year, SRS Capital Markets completed more than $3.5 billion in deal volume comprised of 950 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is celebrating 40 years of going the extra mile for its clients. A leader in consumer-driven real estate, SRS provides commercial real estate solutions across retail, industrial, and capital markets. Headquartered in Dallas with 30 offices nationwide, the firm measures its success by the achievement of its clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.