Colliers Brokers $35.08M Sale of Five-Property Office and Mixed-Use Portfolio on Florida's Space Coast

Colliers has brokered the $35,075,000 sale of a five-property office and mixed-use portfolio totaling approximately 294,570 square feet in Melbourne, Florida, the firm announced May 5, 2026. The disposition of the "Florida Space Coast Investment Portfolio" was structured across multiple transactions completed between August 2025 and April 2026, with the seller employing a flexible strategy designed to attract diverse buyer profiles.

Joe Rossi, CCIM, executive vice president of investment services, and Scott Brenner, Esq., CCIM, SIOR, executive vice president, both of Colliers, represented the seller across all five transactions. The portfolio spans 36.41 acres in the Melbourne submarket.

Portfolio Properties and Transaction Details

The five-asset portfolio encompassed a range of office, retail, and mixed-use properties throughout the Melbourne submarket:

Melbourne Corporate Center, a 33,623-square-foot single-tenant office building at 1775 W Hibiscus Blvd, sold for $3,125,000 on Aug. 28, 2025. The property is fully occupied by Aeronix, an aerospace engineering firm that has leased the building since 1985.

Hibiscus Professional Center, a 26,300-square-foot multi-tenant office asset at 129 W Hibiscus Blvd, sold for $2,450,000 on the same date. The property is 85.4% occupied by tenants including National Drug Screening, Benezra Gynecology, and Hanger Prosthetics.

Imperial Plaza, a 107,000-square-foot office and retail center at 6765–6769 N Wickham Rd, sold for $12,225,000 on Dec. 24, 2025. The property is 99.1% occupied and counts government agencies — including the Department of State, the FBI, and the DCAA — among its tenants, alongside 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 Dec. 24, 2025. Tenants 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 $5,000,000 on April 21, 2026. The asset is 70% occupied by tenants including Health First and Cape Canaveral Hospital.

Two Buyer Groups Complete the Acquisitions

The portfolio sold to two separate buyer groups. PMD Capital Management, led by Max Ducharme, acquired Melbourne Corporate Center and Hibiscus Professional Center for a combined $5,575,000 and completed those transactions without outside broker representation.

An affiliate of Southeast Petro, led by Summit Shah and Mike Shah, acquired the three remaining assets — Imperial Plaza, Centre at Suntree, and Rivercrest Professional Center — for a combined $29,500,000. Scott Loveridge of Relentless Real Estate represented Southeast Petro in those transactions.

"The seller's decision to exit the Melbourne market required a flexible disposition strategy, as each asset appealed to different investor profiles," said Rossi. "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 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. "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."

Space Coast Market Context

The Melbourne submarket sits within Brevard County, Florida's Space Coast region, which has drawn investor interest driven by expansion in the aerospace, defense, healthcare, and technology industries. Major employers in proximity to the portfolio properties include L3Harris, Northrop Grumman, Health First, and the Florida Institute of Technology.

"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."

About the Colliers Brokers

Joe Rossi is the executive vice president of investment services at Colliers in Central Florida, where he leads the firm's Capital Markets platform with a focus on industrial, office, flex, and medical properties across Florida. He has completed more than 10 million square feet of transactions representing over $1.1 billion in sales volume. In 2025, Rossi was recognized as a Top Ten Producer at Colliers and was involved in both the firm's largest land sale and largest office sale that year.

Scott Brenner is an executive vice president at Colliers based in Boca Raton with more than 35 years of experience in Florida's commercial real estate market. He holds JD, CCIM, and SIOR designations and has experience spanning commercial real estate development, property management, brokerage, and investment sales.

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Sources: Colliers press release, May 5, 2026. https://www.colliers.com/en/news/orlando/colliers-facilitates-sale-of-melbourne-fl-office-portfolio-for-35-million