Daytona Beach, Florida – News on Net Lease Properties comes from the Racing Capital of the World, Daytona Beach, Florida. We have information on a pair of Florida Retail Shopping Centers being acquired. Net Lease Properties buyers were Cole Real Estate Investments (Cole). Cole has recently acquired two Florida retail shopping centers in separate NNN commercial real estate transactions. The purchase price for these net lease properties was $31 million for the net-leased Volusia Square and $16 Million for the Breakfast Point Marketplace. Daytona Beach has various events and their beaches help to draw over 8 million visitors per year.
Volusia Square is situated at 2455 W. International Speedway Boulevard, in Daytona Beach, Florida. This net leased property has the zip code of 32114. This Florida Retail Shopping Center is in a bustling location at W. International Speedway Boulevard and N. Williamson Boulevard. This Retail Shopping Center has net leased Tenants that include Home Depot, Toys “R” US, Ross, TJ Maxx and hhgregg among others.
This Florida Net Lease Property is about 3.1 miles from Daytona State College which has approximately 17,400 students. Also this net lease investment is approximately 3.2 miles to Embry-Riddle Aeronautical University. This University sits on 185 acres and the campus has about 4,700 undergraduate and graduate students to help the Net Lease Properties Buyer fuel their tenant’s businesses.
This net leased property is adjacent to Daytona International Airport and Daytona International Speedway. The Florida net lease investment also has net lease property tenants, Hobby Lobby, Bealls Outlet and Pier 1 Imports. Retail Planning Corporation sold the net lease property for $31 million, but it is not known if a 1031 exchange was involved for this NNN Property. Volusia Square is an approximately 228,176 square-foot retail shopping center that is currently 96% net leased.
The entire NNN Commercial Real Estate purchase totaled $47 Million as Columbia Properties received $16 million for their Florida net leased property. We are unaware if the Breakfast Point Marketplace Sellers were in a 1031 Exchange. The Breakfast Point Marketplace is a 97,899 square foot Retail Shopping Center with a Grocery anchor. The current main anchor tenants are Publix Supermarket and Office Depot at this community retail shopping center.
This Florida net leased property that is Grocery anchored is situated in Panama City Beach. Panama City Beach, in Bay County Florida, has some of world’s most beautiful beaches. The Grocery anchored net leased property was built in 2009. The Retail Shopping Center is located at the northeast corner of Panama City Beach Parkway and Richard Jackson Boulevard.
This Publix Anchored Retail Shopping Center is a Class A property and is approximately 99% leased. Publix, the fastest growing employee owned supermarket chain in the United States, has over 650 stores in Florida. Publix Supermarket won the highest rank among supermarkets in 2007. Publix was ranked one of the top ten companies on Forbes list of largest privately owned companies in 2006.
The Florida Retail Shopping Center, Breakfast Point Marketplace, is ideally located on U.S. Highway 98. This Grocery anchored net lease investment serves the area’s rapidly growing residential community, explosive condo market, and approximately 7 million tourists visiting each year. The new Bay County International Airport recently opened and contains travel channels throughout the U.S., Europe and Asia. This Retail Shopping Center has High-end architecture and finishes that identifies this property as a high-end destination. This Retail Shopping Center caters to the middle to upper demographic, as Panama City Beach has become a sought after travel destination.
We have plenty of NNN Commercial Real Estate Buyers seeking quality retail NNN properties, and need 1031 Exchange replacement property. Contact Net Lease Properties to sell your net lease properties or purchase NNN Investment Property.
