Tuesday, April 26, 2011
The asset commanded a sales price of $1,400,000.
98 Palms Strip Center was built in 2003 and is located at 985 Highway 98East. The property is well located in the heart of the Destin retail market and over 50,000 vehicles per day pass by the property location on Highway 98.
Nearby retail attractions include the 420,000-square foot Destin Commons and the 465,000-square foot Silver Sands Factory Outlet Center.
“This added value center should prove to be a good long term investment for the buyer, due to its location in a growing and high income market” says Strauss. “The property was bought in conjunction with an adjacent Walgreens, which will help to provide an income safety net while the retail portion is leased up” adds Jaworski
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