RECENTLY COMPLETED SHOPPES AT CURRENCY CIRCLE IN ORLANDO SELLS FOR $9.15 MILLION
Tiktin Real Estate Investment Services Represents Buyer in 1031 Exchange from Regions Bank Property to Multi-Tenant Retail Center
MIAMI (September 18, 2019)—Tiktin Real Estate Investment Services (TREIS), a leading commercial real estate investment sales brokerage firm, today announced the sale of Shoppes at Currency Circle, a newly constructed freestanding multi-tenant retail center located at 901 Currency Circle in Lake Mary, FL. Trapeza, Inc. acquired the property from HB Retail Little, LLC for $9.15 million. Adam J. Tiktin and Alejandro Snyder of Miami-based Tiktin Real Estate Investment Services represented the buyer. Closing took place Sept. 12, 2019.
“We were pleased to assist our longtime clients in a 1031 exchange from a single-tenant Regions Bank property, which our firm also facilitated the $5.5 million sale for, into this multi-tenant asset,” stated Adam Tiktin, president and broker, TREIS. “We helped to strategically reposition our client's equity into this new multi-tenant retail center, allowing for an increased stream of cash flow.”
The center was completed in 2017 and sits on a 1.8-acre lot with 13,088 square feet of rentable area. Current tenants include CareNow Urgent Care, Zoës Kitchen, Global Mattress, and Serene Med-Spa, all of which have signed brand new 10+ year leases.
The Shoppes at Currency Circle is situated at the signalized corner intersection of W. Lake Mary Boulevard and Primera Boulevard which benefits from traffic counts of 68,300 combined vehicles per day. In addition, the site is adjacent to Interstate 4 with 125,000 vehicles passing by each day.
For more information, please call 305-363-4750 or 844-4-TIKTIN or visit www.TiktinRealEstate.com.