Isaac Pretter And Eron Sodie Of Mosaic Realty Partners Acquire Volusia Square In Daytona Beach For $26.4M
2455 International Speedway Boulevard
$26,400,000
$136/SF
Building Size
193,923 SF
Asset Type
Retail
Closing
Nov 20, 2024
AI
The property involved in this transaction is a retail shopping center known as Volusia Square, located at 2455 West International Speedway Boulevard in Daytona Beach. The asset comprises 193,923 square feet and was sold for a total price of $26,400,000. The property is currently 97.2% leased to various tenants, including Urban Air Adventure Park and Ollie’s Bargain Outlet, and features three retail outparcels home to brands like Buffalo Wild Wings, Arby’s, Lenscrafters, and Cava.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $26,400,000
- Square Footage: 193,923
- Address: 2455 West International Speedway Boulevard
- Market: Daytona Beach
- Buyer: Isaac Pretter & Eron Sodie - Mosaic Realty Partners
- Seller: Mark Kalkus - Lamar Cos.
- Brokers: Brad Peterson & Whitaker Leonhardt - Colliers
- Price Per Square Foot: $136
This transaction was facilitated by the brokerage firm Colliers, which played a significant role in the sale process of the shopping center. The brokers involved, Brad Peterson and Whitaker Leonhardt, represented the sellers, allowing for a smooth transaction between Mark Kalkus of Lamar Cos. and the buyers from Mosaic Realty Partners.
Players
Daytona Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93