Neil E. Merin & Jordan Paul Of MHCommercial Real Estate Fund II Acquire Retail Center In Merritt Island For $9.14M

The property asset involved in the transaction is a retail center located at 239 Crockett Boulevard in Merritt Island, Florida. This grocery-anchored retail center encompasses 90,000 square feet and sits on 15.26 acres of land. The sale price for this property was $9,135,000, reflecting a price per square foot of $102.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $9,135,000
• Address: 239 Crockett Boulevard
• Market: Merritt Island
• Acres: 15.26
• Square Footage: 90,000
• Price Per Square Foot: $102
• Buyer: Neil E. Merin & Jordan Paul - MHCommercial Real Estate Fund II
• Seller: Dechomai Asset Trust Number Three, LLC
• Brokers: John Crotty, Michael Fay, David Duckworth, Brian de la Fe & Philip Shapiro - Avison Young
• Lender: Bank United

MHCommercial Real Estate Fund II acquired the property from Dechomai Asset Trust Number Three, LLC. The retail center is reported to be 92.3% leased, with notable tenants including DG Market and Planet Fitness. The financing for this transaction was facilitated by Bank United.