Ben Hur Investments Acquires Property From Flagler Realty & Development For $29.5 Million
6200 W Irlo Bronson Memorial Hwy, C...
$29,500,000
$669/SF
Building Size
44,095 SF
Asset Type
Retail
Closing
Nov 20, 2023
AI
The Shoppes at Celebration Place is a 44,095-square-foot retail center located at 6200-6296 W. Irlo Bronson Memorial Highway in Celebration, Florida. The property was sold for $29,500,000.00. At the time of sale, it was fully leased to various tenants, including Walgreens, Applebee’s, Arby’s, Dunkin’ Donuts, Chipotle Mexican Grill, and Five Guys Burgers & Fries.
Summary of transaction details:
- Property Type: Retail Center
- Transaction Amount: $29,500,000.00
- Address: 6200 W Irlo Bronson Memorial Hwy, Celebration, Florida
- Buyer: Ben Hur Investments
- Seller: Flagler Realty & Development
- Buyer's Representatives: K.B. Yabuku - Stan Johnson Company, Maggie Holmes - Stan Johnson Company
- Brokers: Joey Odom
- Square Footage: 44,095
The transaction was facilitated by Stan Johnson Company, with key representatives including K.B. Yabuku and Maggie Holmes, who represented the buyer. Joey Odom was involved in the brokerage services for the sale. Flagler Realty & Development, based in South Florida, was the seller in this transaction.
Players
Market 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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93