Investors Acquire 137,554 Square Foot Lowe's Home Improvement Store In Odessa For $14.3M

Investors purchased a newly completed retail asset located at 2317 Gunn Highway, Odessa, Florida. The property spans 12 acres and consists of a 137,554-square-foot Lowe’s Home Improvement store. This transaction was valued at $14,300,000, equating to a price per square foot of $104.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $14,300,000
• Acres: 12
• Square Footage: 137,554
• Address: 2317 Gunn Highway
• Market: Odessa
• Seller: Jim Dunphy - Dunphy Development
• Buyer's Representatives: Matthew Mousavi & Patrick Luther; Chris Maguire - SRS Real Estate Partners
• Seller's Representative: Patrick Wagor - Atlantic Retail
• Price Per Square Foot: $104

This transaction includes a 20-year corporate-backed ground lease for the store, which anchors the Trinity Lakes center, surrounded by national retailers such as Publix and 7-Eleven.