Shannon Waltchack Acquires Tequesta Village Square For $20.4M In South Florida

The property involved in the transaction is a retail asset located at 221-289 South US Highway 1 in Tequesta, spanning across 5.6 acres. The sale price for this fully leased shopping center was $20,400,000, with a total square footage of 74,102 and a price per square foot of $275.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $20,400,000
• Buyer: Derek R. Waltchack - Shannon Waltchack
• Seller: Morgan N. Russell - Russell Properties of Tequesta, LLC
• Lender: Service First Bank
• Market: Tequesta

Alabama-based Shannon Waltchack (SW) acquired Tequesta Village Square, focusing on service-oriented tenants in retail centers without main anchors. The purchase was made from Morgan N. Russell, who represented Russell Properties of Tequesta, LLC. Service First Bank provided the lending for this transaction.