David Mallen Of Wilder Acquires Fully Leased Retail Center In Sarasota For $20.4M

The property involved in this transaction is a retail asset located at 8405 Honore Avenue in Sarasota, Florida. The shopping center encompasses a total of 65,417 square feet and was sold for a transaction amount of $20,400,000, resulting in a price per square foot of $312. It is notable that the property is fully leased and anchored by a Publix prototype. The seller of the asset is WMG Development, and the deal was brokered by Colliers.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $20,400,000
• Address: 8405 Honore Avenue
• Market: Sarasota
• Square Footage: 65,417
• Price per Square Foot: $312
• Buyer: David Mallen - Wilder
• Seller: Curtis Frost - WMG Development
• Broker: Brad Peterson - Colliers
• Mortgage Broker: Donald Jennewein - Colliers

The buyer, David Mallen, represents Wilder in this acquisition, which included two unnamed investors. The center, known as The Shoppes at Palmer Ranch, features multiple tenants and was acquired in a fully leased condition, highlighting its operational status at the time of sale.