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John Middleton Acquires Retail Property In Clearwater For $22.5M

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SOLD
$22,500,000
Michael Fay
John Crotty
+ 4

Florida

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Retail134,362 SF
Sold 11/10/2022
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Property Image
SOLD

John Middleton Acquires Retail Property In Clearwater For $22.5M

21800 US Highway 19 North

See Similar Deals
Retail134,362 SF
Sold 11/10/2022
Michael Fay
John Crotty
+ 4
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$167
Total Square Footage:134,362 SF
Transaction Type:Sale

The retail property located at 21800 US Hwy 19 N in Clearwater has been sold for a total price of $22,500,000. The property spans across 134,362 square feet, resulting in a price per square foot of $167. The sale was completed on November 10, 2022. The buyer in this transaction is John Middleton, who is associated with the Philadelphia Phillies. The seller of the property is Chad Hurst. The deal was facilitated by a team of brokers from Avison Young, namely Michael T. Fay, Brian C. de la Fé, John K. Crotty, David Duckworth, and Nick Robinson.

Summary of Transaction Details

  • Property Type: Retail
  • Transaction Amount: $22,500,000
  • Address: 21800 US Hwy 19 N, Clearwater
  • Market: Clearwater
  • Buyer: John Middleton - Philadelphia Phillies
  • Seller: Chad Hurst
  • Brokers: Michael T. Fay, Brian C. de la Fé, John K. Crotty, David Duckworth, and Nick Robinson - Avison Young

The involvement of John Middleton from the Philadelphia Phillies adds an interesting aspect to this retail property transaction. This demonstrates Middleton's interest in diversifying his investment portfolio beyond the world of sports. The Avison Young team, consisting of Michael T. Fay, Brian C. de la Fé, John K. Crotty, David Duckworth, and Nick Robinson, successfully facilitated the deal, showcasing their expertise in the retail real estate market.

Players

John Crotty
51 deals$1.5B volume(305) 345-9567
BROKER

Michael Fay
Avison Young
49 deals$1.4B volume(305) 447-7842
BROKER

David Duckworth
Avison Young
44 deals$1.2B volume
BROKER

Brian de la Fé
Avison Young
46 deals$1.3B volume(305) 476-7134
BROKER

Nick Robinson
Avison Young
2 deals$27.5M volume(352) 857-2626
BROKER


2 deals$45M volume
SELLER

Details

SOLD
IMAGE: Nick Robinson, Brian C. de la Fé, David Duckworth, John K. Crotty & Michael T. Fay DATE: 11/10/2022 ADDRESS: 21800 US Hwy 19 N MARKET: Clearwater ASSET TYPE: Retail BUYER: John Middleton - Philadelphia Phillies SELLER: Chad Hurst BROKERS: Michael T. Fay (@MichaelTFay), Brian C. de la Fé (@BCDelaFe), John K. Crotty (@JohnKCrotty), David Duckworth & Nick Robinson - Avison Young SALE PRICE: $22,500,000 SF: 134,362 ~ PPSF: $167

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

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Cap Rate

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