Colliers Facilitates Sale Of Melbourne Portfolio For $35 Million

Colliers has brokered the sale of a five-property office and mixed-use investment portfolio totaling over 294,000 square feet in Melbourne for a combined $35,075,000.

The seller completed the disposition of the “Florida Space Coast Investment Portfolio” through a structured sale process that maximized value across diverse buyer groups.

Joe Rossi, CCIM, and Scott Brenner, Esq., CCIM, SIOR, of Colliers represented the seller in all transactions. The portfolio sold across multiple transactions completed between August 2025 and April 2026.

PMD Capital Management, led by Max Ducharme, purchased Melbourne Corporate Center and Hibiscus Professional Center, while an affiliate of Southeast Petro, led by Summit Shah and Mike Shah, acquired Imperial Plaza, Centre at Suntree and Rivercrest Professional Center. Scott Loveridge of Relentless Real Estate represented Southeast Petro in the transaction, while PMD Capital Management completed its acquisitions without outside representation.

“The seller’s decision to exit the Melbourne market required a flexible disposition strategy, as each asset appealed to different investor profiles,” said Rossi, executive vice president of investment services for Colliers. “The ability to structure this as both a portfolio and individual asset sale allowed us to create competitive tension and ultimately maximize value for the seller.”

The five-property portfolio totals approximately 294,570 square feet across 36.41 acres:

• Melbourne Corporate Center, a 33,623-square-foot office building at 1775 W Hibiscus Blvd, sold for $3,125,000 on Aug. 28, 2025, and is fully occupied by Aeronix, an aerospace engineering firm that has leased the property since 1985.
• Hibiscus Professional Center, a 26,300-square-foot multi-tenant asset at 129 W Hibiscus Blvd, sold for $2.45 million on the same date as Melbourne Corporate Center and is 85.4% occupied by tenants that include National Drug Screening, Benezra Gynecology and Hanger Prosthetics.
• Imperial Plaza, a 107,000-square-foot office and retail center located at 6765–6769 N Wickham Rd, sold for $12,225,000 on Dec. 24, 2025, and is 99.1% occupied, with tenants including government agencies such as the Department of State, FBI and DCAA, as well as Stifel and Fiesta Azteca.
• Centre at Suntree, an 82,172-square-foot fully leased retail and medical property at 6300 N Wickham Rd, sold for $12,275,000 on the same date as Imperial Plaza and features tenants that include Premier Urgent Care, Moon Golf and Huntington Learning Center.
• Rivercrest Professional Center, a 45,475-square-foot flex and office property at 3440–3594 N Harbor City Blvd, sold for $5 million on April 21, 2026. The asset is 70% occupied by tenants including Health First and Cape Canaveral Hospital.

“The portfolio offered investors a rare opportunity to acquire a critical mass of high-performing assets in one of Florida’s fastest-growing markets,” said Brenner, executive vice president of Colliers. “With strong occupancy across the properties and a tenant base that includes national and regional users, the assets provide stable in-place income with additional upside through lease-up and rental rate growth.”

The properties are strategically located throughout the Melbourne submarket, with proximity to major employers, such as L3Harris, Northrop Grumman, Health First and the Florida Institute of Technology. Driven by expansion in aerospace, defense, healthcare and technology industries, the Melbourne market continues to attract investor interest.

“These transactions highlight the continued strength of investor demand in the Space Coast region, particularly for well-located assets with stable tenancy and long-term growth potential,” said Rossi. “These transactions reinforce the sustained demand for commercial space and positive long-term outlook for the region.”