SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of Surfside Shops, a retail strip center located in Cape Coral, Fla., and Shoppes at Minton, a retail strip center located in Palm Bay, Fla.
Surfside Shops is a 22,267 square foot outparcel to Shops at Surfside, which is anchored by Belk and Dollar Tree, and is situated on 2.5 acres of land. The tenant roster at the property is characterized by an advantageous blend of internet-resistant retail uses and is roughly 92% occupied. The national tenants include Hair Cuttery, H&R Block, and GameStop. Surfside Shops is located at 2378-2384 Surfside Boulevard within the Cape Coral-Fort Myers MSA and is positioned at the signalized intersection of Veterans Memorial Parkway and Surfside Boulevard with a combination of 30,000 vehicles per day. The seller, T Surfside FL, LLC, sold the property on December 4, 2019 for $4.7 million to J McGraw, LLC.
Shoppes at Minton consists of 25,200 square feet and is situated on 2.99 acres of land. The center is 100% occupied by a synergistic combination of national, regional, and local tenants including Subway, CSI Special Care, and Beachside Physical Therapy. It is anchored by Paradise Market, a leading health & nutrition store in the area. Shoppes at Minton is located at 4270 Minton Road in Palm Bay, Fla. and sits at the northwest corner of the intersection of Palm Bay Blvd and Minton Road, just half a mile from Interstate 95. The seller, MJR Minton, LLC, sold the property on December 6, 2019 for $4.8 million to All in One Investment Properties, LLC.
“Our extensive database of retail investors and aggressive marketing continues to enable us to identify many strong buyers for Florida strip centers as new residents and capital continue to move into the state,” said Kevin Yaryan, senior vice president of SRS’ Investment Properties Group in the Orlando office. “We generated solid activity and multiple offers on both properties, enabling us to select the best buyers for each property and create maximum value for our sellers.”
Kevin Yaryan, along with Kyle Stonis, managing principal, and Pierce Mayson, principal, of the Investment Properties Group in the SRS Atlanta office, acted as transaction brokers for Surfside Shops and as listing brokers on Shoppes at Minton.
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.
