April 14, 2023 – Matt Siebert of Horvath & Tremblay has successfully completed the sale of the Ridgecrest Plaza in Orange Park, Florida. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $9,800,000.
Ridgecrest Plaza is a 100,895 square foot community shopping center located at 868 Blanding Boulevard in Orange Park, Florida. The value-add center is 81% leased with an ideal core of high-profile national anchors including Ollie’s Bargain Outlet, Dollar Tree, and Buddy’s Home Furniture. National and regional tenants account for 74% of the occupied space including Pizza Hut, OneMain Financial, Allstate and a Wells Fargo ATM. Featuring 19,070 square feet of available space, Ridgecrest Plaza offers significant upside through the lease-up of 10 suites ranging from 1,020 SF to 3,300 SF. The Property benefits from outstanding visibility and frontage along Blanding Boulevard which sees more than 61,700 vehicles per day, prominent signage, and several points of access. Ridgecrest Plaza is ideally positioned at the signalized intersection of Blanding Boulevard (FL SR 21), the area’s primary commercial and commuter corridor, and Ridgecrest Avenue. The Property is surrounded by shopping centers and national retailers that drive significant traffic to the immediate area and is positioned amongst densely developed residential neighborhoods providing a built-in customer base. Orange Park is a suburb of Jacksonville and is positioned approximately 20 miles from the city’s central business district.
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.