MHCommercial Real Estate Fund II Acquires Grocery-Anchored Retail Center On Florida’s Space Coast
The property boasts a 92.3% occupancy rate.
The property boasts a 92.3% occupancy rate.
The acquisitions total 150 acres.
Senior Vice President Louie Granteed represented the landlord in the transaction and exclusively handles all retail and restaurant leasing at the property.
The project, backed by a $45 million investment, will feature 392 modern apartments as well as approximately 53,000 to 55,000 square feet of commercial space, including retail shops, diverse dining options, and offices.
The Colliers Retail Team’s work on this project was awarded the Central Florida Commercial Association of Realtors’ Deal of the Year in 2024.
Peter Klein orchestrated the complex multi-market acquisition campaign.
Tarek Chbeir represented the seller, a private investor, in the transaction. He collaborated with Adam Sklaver and Philip Kates of Marcus & Millichap’s Commercial Property Auction Services to market the asset.
The property had been owned by its prior entity for more than 30 years and this transaction represents the first of numerous properties being sold under similar circumstances.
The sites are situated across Orange and Seminole counties.
Current and prospective members will now have access to over 60 Crunch Fitness locations across the state of Florida.
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