Matthews™ Represents Seller of Beach-Side Retail Center

Shoppes at Paradise Beach Sold

 

Indialantic, FL — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, closed the $6,750,000 sale of The Shoppes at Paradise Beach, a retail strip center located at  2324 N Hwy A1A, Indialantic, FL. Associate Brandon Senia and Associate Vice President Robert Goldberg represented the seller in the transaction.

 

The strip center features 29,650 square feet on a 3.25-acre lot. At the time of sale, the property offered 100% occupancy with 12 tenants, including local eateries, a nail salon, sporting goods store, and florist. The site benefits from several major hotels within walking distance.

 

Originally built in 1981, The Shoppes at Paradise Beach was renovated in 2005 and sold by the original owner.

 

“By executing a comprehensive marketing strategy, we secured over 10 offers despite challenging lending conditions in the marketplace,” Senia said. “We then leveraged the multiple offers to negotiate an advantageous sale price for our client.”

 

The buyer was a private investor based out of Miami, FL.

 

“The Shoppes at Paradise Beach is a great example of small-bay multi-tenant retail, which has seen immense growth in transaction velocity over the last 24-36 months,” Goldberg said. “After the buyer visited the property, they knew it was the right fit for their portfolio. We are happy to get this one across the finish line and achieve both parties’ goals.”

 

For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and support staff in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.