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11029 West Colonial Drive O...

MY SALON Suite Signs Lease For 7,000 SF Space In Ocoee's Towne Square Shopping Center
LEASEDRetail

MY SALON Suite Signs Lease For 7,000 SF Space In Ocoee's Towne Square Shopping Center

11029 West Colonial Drive Ocoee, FL 34761, USA

Building Size

7,000 SF

Asset Type

Retail

Closing

Sep 11, 2023

AI

A MY SALON Suite franchise group has signed a lease for 7,000 square feet of space in Ocoee, Florida's Towne Square shopping center. The lease transaction was facilitated by Rich Krepakis from NewWave Commercial. The franchise, owned by Corey, Judith, and Terrel Corbitt, offers beauty and wellness services and has plans to expand its presence, targeting locations with favorable demographics.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Address: 11029 West Colonial Drive, Ocoee, Florida
  • Market: Ocoee
  • Square Footage: 7,000 SF

The franchise group, represented by Rich Krepakis from NewWave Commercial, secured the lease in the Towne Square shopping center. The property is owned by Continental Realty Corporation, with JM Schapiro acting as the landlord's representative. Cherene Keenan from Continental Realty Corporation and Janet Galvin from Archon Commercial Advisors also assisted as landlord representatives in the lease deal. The MY SALON Suite franchise group, owned by Corey, Judith, and Terrel Corbitt, plans to expand its operations and chose Ocoee due to its favorable demographics.

Players

Cherene Keenan

Continental Realty Corporation

Broker

3 deals

Broker
JM Schapiro

JM Schapiro

Continental Realty Corporation

Landlord

$396M

vol

12 deals

Landlord
MS
MY SALON SuiteTenant

Ocoee Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93