Ardent Development Acquires Retail Property In Sanford For $17.56 Million With John Dottore As Buyer's Rep
200 Towne Center Circle
$17,560,000
$36/SF
Building Size
484,681 SF
Asset Type
Retail
Closing
Mar 14, 2025
About this deal
AI
The retail asset located at 200 & 330 Towne Center Circle & 595 Towne Center Boulevard in Sanford has been sold for $17,560,000. The property encompasses a total area of 484,681 square feet, translating to a price per square foot of $36.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $17,560,000
- Buyer: Ardent Development
- Seller: Felix Reznick - 4th Dimension Properties
- Buyer's Representative: John Dottore - Atlantic Retail
- Seller's Representative: Daniel Solomon - Katz & Associates Real Estate Advisors
The transaction involved key industry players, with John Dottore representing Ardent Development and Daniel Solomon representing Felix Reznick of 4th Dimension Properties, highlighting their roles in facilitating the deal within the Sanford market.
Players
Sanford Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.90%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93