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Marcus & Millichap Brokers the Deal of Shoppes at Reunion for $6.8M

January 18, 2022

DAVENPORT, Fla., January 18, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Shoppes at Reunion, a 19-suite, 25,027-square-foot retail plaza located in Davenport, Florida. According to Justin W. West, regional manager of the firm’s Orlando office, the asset sold for $6.8 million. 

Based on property records, the plaza was built in 2 phases; Phase I, a total of 12,000-square-feet, was built in 2007 and Phase II, approximately 13,000-square-feet was added in 2015. At the time of sale in December 2021, the 100% leased plaza features a drive-thru Dunkin Donuts as an end cap tenant, along with Pizza Hut, a Chinese restaurant, and many other complimentary tenants. 

Salim Valiani, an investment specialist in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller. 

“This 100% occupied plaza is a gem located among one of the fastest-growing markets. The seller was able to develop the property to its full potential, from roughly 12,000-SF to almost 25,000-SF We are excited for the buyers to reap the benefits from this property for years to come,” said Valiani. 

Shoppes at Reunion is located at 7531 Osceola Polk Line Rd in Davenport, Florida, directly off the main road of Osceola Polk Line Rd.

 

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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