Franklin Street Facilitates the Sale of 230-unit Multifamily Property in Port St. Lucie, FL
Port St. Lucie, FL – Franklin Street is pleased to announce the successful sale of a Class B, value-add multifamily property located at 1900 & 1942
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Port St. Lucie, FL – Franklin Street is pleased to announce the successful sale of a Class B, value-add multifamily property located at 1900 & 1942
March 27, 2015
Health-conscious consumers willing to shell out big bucks for specialty fitness training and apparel are creating a niche business boom in Jacksonville.
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In the retail world, getting deals done means finding the right strategy for the right client. Although the most influential factor in a transaction often comes down to the success of the area or the specific shopping center, Carrie Smith, a regional managing partner with Franklin Street, says class A retail space is increasingly hard to come by and tenants will bid aggressively to secure the right location.
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One of the few remaining pieces of prime developable land in Coral Gables has changed hands. And developers have a plan to build luxury townhomes aimed at empty nesters and retirees.
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“Multifamily property investors are willing to accept lower returns in prime locations such as Coral Gables and Miami Beach, because they see these assets as hedges against inflation, as well as safe long-term investments. Weighing long-term appreciation potential in these areas, investors will accept returns in the 4%-5% range on a cash basis without financing. This is more attractive to them than where their money is currently invested.”
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An affiliate of Bowling Green, Ky.-based Glenwood Properties purchased a Tuffy Auto Center and Dairy Queen for $2.35 million.
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Connie Selcis
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