East Coast Acquisitions Acquires Retail Property in Kissimmee for $26.3M
East Coast Acquisitions purchases 122,845 SF retail property in Kissimmee from Glenborough LLC for $26.3M.
East Coast Acquisitions has made a significant acquisition in the retail real estate market with the purchase of a 122,845 SF property in Kissimmee for $26.3M. The property, located at 3040 Dyer Boulevard, was sold by Glenborough LLC and brokered by Brad Peterson, Whitaker Leonhardt, and Tommy Isola of JLL.
The property is situated in a prime location in Kissimmee, a growing city in central Florida. The retail space is currently 100% leased to a variety of tenants, including national brands such as Dollar Tree, Sally Beauty, and GameStop. The property is also located near major highways, providing easy access for customers and employees.
East Coast Acquisitions, a real estate investment firm based in New York, has been actively seeking investment opportunities in the retail sector. The firm has a strong track record of acquiring and managing retail properties throughout the United States, and this acquisition is expected to be a valuable addition to their portfolio.
Glenborough LLC, the seller of the property, is a real estate investment and management firm based in San Mateo, California. The firm specializes in the acquisition, management, and disposition of commercial properties throughout the United States. The sale of this property is part of their ongoing strategy to optimize their portfolio and focus on core markets.
The brokers involved in the sale, Brad Peterson, Whitaker Leonhardt, and Tommy Isola, are all experienced professionals in the commercial real estate industry. They have a strong track record of successfully brokering deals in the retail sector, and their expertise was instrumental in bringing this transaction to a successful close.
Overall, this acquisition is a positive sign for the retail real estate market, which has been facing challenges in recent years due to the rise of e-commerce. The fact that a major investment firm like East Coast Acquisitions is willing to invest in retail properties is a testament to the resilience of the sector and its potential for long-term growth.
