SRS Real Estate Partners Closes $5.29M Sale of Shoppes at Hunt Club Retail Property in Apopka, FL

SRS Real Estate Partners has completed the $5.29 million sale of Shoppes at Hunt Club, a fully occupied retail property situated at 3301 E. Semoran Boulevard in Apopka, Florida, the firm announced March 25. The 8,211-square-foot retail center traded at a 6.17% cap rate, or approximately $645 per square foot.

Transaction Details

Built in 2006 and situated on 1.48 acres, Shoppes at Hunt Club is fully leased to four tenants: Firehouse Subs, Smoothie King, Spectrum, and MUV Dispensary. The seller, a Florida-based national investor and developer, executed a value-add strategy over a 33-month repositioning period during which it signed a new lease and extended the lease term for every existing tenant at the property before bringing it to market.

The buyer, a Florida-based private investor completing a 1031 exchange, acquired the stabilized asset as a passive, income-producing investment. No loan details were disclosed.

"We were pleased to assist in the seller's execution of a value-add strategy at this location. Over the course of its 33-month repositioning period, the seller signed a new lease and extended the lease term for every existing tenant at the property," said William Wamble, Executive Vice President and Principal at SRS Capital Markets. "Once stabilized, we sold the property to a private 1031 investor who has been seeking passive, cash-flowing assets in the growing Orlando area."

Brokerage

SRS Capital Markets Executive Vice President and Principal William Wamble and Senior Managing Principal Patrick Nutt represented the seller in the transaction. SRS Capital Markets reported more than $3.5 billion in deal volume across 950 transactions nationwide last year. The firm currently has in excess of 845 properties actively on the market with a combined market value surpassing $3.7 billion.

Founded in 1986 and headquartered in Dallas, SRS Real Estate Partners operates 30 offices nationwide and provides commercial real estate solutions across retail, industrial, and capital markets sectors.

Location

Shoppes at Hunt Club is situated at the signalized intersection of East Semoran Boulevard and South Hunt Club Boulevard in Apopka, Florida. The property is adjacent to Club Corners, a 105,000-square-foot Publix-anchored neighborhood center, with additional nearby retailers including Walmart Neighborhood Market and Sprouts.