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2120 Skibo Road

Mason Ghaniabadi & Jordan Meehan Acquire Retail Portfolio For $26.05 Million With Seller's Rep Randy Blankstein
SOLDRetail

Mason Ghaniabadi & Jordan Meehan Acquire Retail Portfolio For $26.05 Million With Seller's Rep Randy Blankstein

2120 Skibo Road, 16978 Clover Road, 1303 Klumac Road, 2501 North Federal Highway, 5100 Daniels Parkway, 6280 20th Street, 6310 20th Street, 5709 Johnston Street, 1103 East Admiral Doyle Drive, 733 Brownswitch Road & 15299 Crossroads Parkway

$26,050,000

$374/SF

Building Size

69,529 SF

Asset Type

Retail

Closing

Oct 10, 2025

AI

The property assets involved in this transaction include multiple retail locations across different markets. The sale encompasses addresses such as 2120 Skibo Road in Fayetteville, 1303 Klumac Road in Salisbury, 16978 Clover Road in Noblesville, IN, and several others including locations in Pompano Beach, Fort Myers, Vero Beach, Lafayette, New Iberia, Slidell, and Gulfport. The transaction was completed for a sale price of $26,050,000 with a total square footage of 69,529, resulting in a price per square foot of $375.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $26,050,000
  • Square Footage: 69,529
  • Price per Square Foot: $375
  • Buyer: Mason Ghaniabadi & Jordan Meehan - Spark Properties
  • Seller's Representative: Randy Blankstein - The Boulder Group
  • Market: Fayetteville & Salisbury, NC; Noblesville, IN; Fort Lauderdale, Fort Myers & Vero Beach, FL; Lafayette, New Iberia & Slidell, LA; Gulfport, MS

This transaction highlights Mason Ghaniabadi and Jordan Meehan as the buyers, representing Spark Properties. Randy Blankstein represented the seller in this deal through The Boulder Group, facilitating the successful transaction of these retail properties across various states.

Players

Randy Blankstein

The Boulder Group

Broker

$349.6M

vol

71 deals

Broker

Mason Ghaniabadi

Buyer

$75.8M

vol

5 deals

Buyer

Fayetteville 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

0.61%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93