JM Real Estate, Inc. Closes on Village Center, a Modern Retail Center in the Heart of Viera, Florida, for $3.1 Million
MELBOURNE, Fla., Dec. 23, 2020 /PRNewswire/ -- JM Real Estate, Inc. ― a full-service commercial property management, leasing and sales company based in Brevard County, Florida ― recently completed the closing of Village Center, located at 1950 Viera Blvd., Viera, FL 32955, for $3.1 million. Charine Lewis, Director of Sales & Leasing for JM Real Estate, Inc., represented both the seller, ICV Viera, LLC, and the buyer, 1950 Viera Blvd, LLC, as a transaction broker.
Featuring 13 rental suites, Village Center offers 16,008 total square feet on 2.58 acres (acreage includes building and a vacant parcel measuring +/-.85 acres). It was built in 2008. The center is strategically located on the north side of Viera Blvd., a major corridor running east/west from U.S. Highway 1 to Viera West.
"Village Center is in a prime location in the fastest-growing area of Brevard County," said Lewis. "We are pleased to have represented the seller of this beautiful property, which is located in an incubator area for future growth that is not currently oversaturated. Investment real estate in Brevard County is more affordable than other larger metropolitan cities, such as Miami and Orlando."
Current Village Center lessees include Gio's Italian Ice, State Farm, Pelican Floors, Strater Family Chiropractic, Tangles Hair Studio, Richard's Paint, Ardor Nails, and Code Ninjas.
In 2018, Viera ranked in the Top 25 Best Selling Master Planned Communities by John Burns Real Estate Consulting, LLC and RCLCO Real Estate Advisors. Viera Boulevard now has a full interchange, which adds dramatic value to Village Center's location and increases traffic counts. Viera's master plan calls for continued development growth to 2050.
JM Real Estate, Inc., which was founded in 1997, has a current portfolio of approximately 2.5 million square feet and an estimated value of more than $300 million. It has been involved in millions of square feet of acquisitions and dispositions of commercial investment properties, primarily multi-tenant office and retail spaces. The company has also been involved in development projects, and ultimately disposition spanning the full spectrum of commercial investment real estate.
In 2020, JM Real Estate, Inc. was acquired by Tzadik Properties, LLC, an industry-leading, multi-family property management company based in Miami-Dade County, Florida, and in Sioux Falls, South Dakota.
About JM Real Estate, Inc.
JM Real Estate, Inc. is a full-service, commercial property management, leasing and sales company based in Brevard County, Florida. It specializes in multi-tenant office, retail, medical and industrial properties, and serves from Titusville to Palm Bay. JM has represented millions of square feet of acquisitions and dispositions of commercial investment properties, primarily multi-tenant office and retail. It has a current portfolio of approximately 2.5 million square feet and an estimated value of over $300 million. In 2020, Tzadik Properties, LLC, an industry-leading, multi-family property management company based in Miami, Florida, acquired JM Real Estate, Inc. For more information, visit www.JMRealEstate.com or call (321) 242-2882.
Contact:
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SOURCE JM Real Estate, Inc.
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