December 5, 2017 – Brian Ahrens and Mark Brockwell of Horvath & Tremblay have successfully completed the sale of the Oxford Commons in Tallahassee, Florida. Horvath & Tremblay procured the 1031 exchange buyer to close the property at a sale price of $3,845,000, a 6.15% cap rate.
Oxford Commons is a newly constructed, multi-tenant retail center located along Thomasville Road. The retail center is fully leased to Mattress 1 One, Heartland Dental and Willie Jewell’s Old School Bar-B-Q. Each tenant has signed a new lease with scheduled rental increases.
Oxford Commons is positioned with excellent visibility and access to over 46,000 vehicles per day along Thomasville Road which serves as a central route through northern Tallahassee and provides convenient access to downtown Tallahassee. The Property is located in an affluent retail trade area with an average household income of over $118,000. Attracting shoppers to the local area are additional national tenants including: Walmart Supercenter, Starbucks, Target, CVS, Publix, Stein Mart, TJ Maxx, and Trader Joe’s.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.