$11.8M Retail Property Sale On Citadel Way, Melbourne, FL With Matthew Mousavi

The Viera Colonnade Shops, spanning three buildings and totaling 27,051 square feet, were sold in Melbourne, FL. The retail property, situated at 2328 Citadel Way, was acquired by a private partnership between domestic and foreign investors for $11.8 million, equivalent to $436 per square foot.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $11,800,000.00
• Address: 2328 Citadel Way, Melbourne, FL
• Market: Melbourne
• Seller's Rep: Matthew Mousavi (SRS Real Estate Partners)
• Buyer: Unknown
• SF: 27,051

SRS Real Estate Partners, represented by Investment Properties Group Managing Principals Patrick Luther and Matthew Mousavi, facilitated the deal on behalf of the seller. The buyer, a private partnership, took ownership of the shopping center, fully occupied by various tenants including UPS, Jersey Mike’s, and Blaze Pizza, among others, all under 10-year triple-net leases.