Matthew Development Sells Retail Property In Orlando For $34.75M With NorthMarq Representation

The property involved in this transaction is a new construction single-tenant NNN BJ's Wholesale Club located at 7030 Southwest 59th Avenue, Orlando. It was sold for $34,747,000. The property spans 104,000 square feet, which results in a price per square foot of $334.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $34,747,000
• Square Footage: 104,000
• Price Per Square Foot: $334
• Seller: Matthew Development
• Broker Representatives: Drew Neems & Zach Pool - NorthMarq
• Market: Orlando

NorthMarq's Miami office, led by Drew Neems, represented the developer in this off-market transaction, while Zach Pool, from the Tulsa office, represented the buyer. This property features a rare 25-year absolute NNN lease and is strategically positioned as the anchor retailer at the entrance of the 960-acre Winding Oaks community. The sale is noted for achieving one of the lowest cap rates for a BJ's Wholesale deal, highlighting the property's strong real estate fundamentals and desirable tenancy.