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
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