{"id":1004362580,"date":"2019-10-24T22:28:41","date_gmt":"2019-10-25T06:28:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004362580"},"modified":"2019-10-24T22:28:41","modified_gmt":"2019-10-25T06:28:41","slug":"south-florida-shopping-center-sells-for-18m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/","title":{"rendered":"South Florida Shopping Center Sells for $18M"},"content":{"rendered":"
\"Palm<\/a>

Palm Bay West. Image courtesy of Institutional Property Advisors<\/em><\/p><\/div>\n

Nightingale Properties has sold Palm Bay West, a 262,632-square-foot shopping center in Palm Bay, Fla., to a private investor for $17.5 million. Ladder Capital provided the new owner with a $12.2 million acquisition loan, per Brevard County records. Institutional Property Advisors represented the seller and secured the buyer in the deal. The retail asset last traded in 2010 for $14.3 million.<\/p>\n

Palm Bay West is located 8 miles southwest of the city center at 160 Malabar Road SW. The property’s 31 acres are at the intersection of Malabar and Minton roads 3 miles west of Interstate 95, where the daily traffic count is approximately 40,000 vehicles. Some 56,000 people live within a 3-mile radius of the asset.<\/p>\n

Completed in 1989, Palm Bay West is anchored by Winn-Dixie and Roses Discount Stores. The tenant roster also includes NCG Cinema, Ollie\u2019s Bargain Outlet, Planet Fitness and Dollar Tree. The shopping center was 90 percent leased at the time of the sale.<\/p>\n

IPA’s Kirk Olson and Drew Kristol were involved in the transaction. The two are also directors with Marcus & Millichap\u2019s National Retail Group, which brokered the nearly $6 million October sale<\/a> of a 24,635-square-foot shopping center in Kissimmee, Fla.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 262,632-square-foot retail asset is 8 miles southwest of downtown Palm Bay. Institutional Property Advisors represented the seller and procured the buyer in the deal.<\/p>\n","protected":false},"author":870,"featured_media":1004362601,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,21742,21749],"tags":[35230,45104,37052],"class_list":["post-1004362580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-latest","category-retail","tag-institutional-property-advisors","tag-ladder-capital-finance","tag-nightingale-properties"],"acf":[],"yoast_head":"\nSouth Florida Shopping Center Sells for $18M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Florida Shopping Center Sells for $18M\" \/>\n<meta property=\"og:description\" content=\"The 262,632-square-foot retail asset is 8 miles southwest of downtown Palm Bay. Institutional Property Advisors represented the seller and procured the buyer in the deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-25T06:28:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Palm-Bay-West-e1571921075822.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1027\" \/>\n\t<meta property=\"og:image:height\" content=\"770\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/\",\"name\":\"South Florida Shopping Center Sells for $18M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Palm-Bay-West-e1571921075822.jpg\",\"datePublished\":\"2019-10-25T06:28:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Palm-Bay-West-e1571921075822.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Palm-Bay-West-e1571921075822.jpg\",\"width\":1027,\"height\":770,\"caption\":\"Palm Bay West\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"South Florida Shopping Center Sells for $18M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1\",\"name\":\"Adriana Marinescu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g\",\"caption\":\"Adriana Marinescu\"},\"description\":\"Adriana Marinescu is an associate editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2019.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/adriana-marinescu\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"South Florida Shopping Center Sells for $18M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/","og_locale":"en_US","og_type":"article","og_title":"South Florida Shopping Center Sells for $18M","og_description":"The 262,632-square-foot retail asset is 8 miles southwest of downtown Palm Bay. Institutional Property Advisors represented the seller and procured the buyer in the deal.","og_url":"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-10-25T06:28:41+00:00","og_image":[{"width":1027,"height":770,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Palm-Bay-West-e1571921075822.jpg","type":"image\/jpeg"}],"author":"Adriana Marinescu","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/","url":"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/","name":"South Florida Shopping Center Sells for $18M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Palm-Bay-West-e1571921075822.jpg","datePublished":"2019-10-25T06:28:41+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Palm-Bay-West-e1571921075822.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Palm-Bay-West-e1571921075822.jpg","width":1027,"height":770,"caption":"Palm Bay West"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/south-florida-shopping-center-sells-for-18m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"South Florida Shopping Center Sells for $18M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1","name":"Adriana Marinescu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g","caption":"Adriana Marinescu"},"description":"Adriana Marinescu is an associate editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2019.","url":"https:\/\/www.commercialsearch.com\/news\/author\/adriana-marinescu\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/Palm-Bay-West-e1571921075822.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004362580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/870"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004362580"}],"version-history":[{"count":5,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004362580\/revisions"}],"predecessor-version":[{"id":1004362889,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004362580\/revisions\/1004362889"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004362601"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004362580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004362580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004362580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}