May 25, 2023 – Charles Moody of Horvath & Tremblay has successfully completed the sale of the Dixie Colonial Center in Vero Beach, Florida. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $5,350,000.
Dixie Commercial Center, a multi-tenant commercial and self-storage complex, is located at 1110-1122 Old Dixie Highway in Vero Beach, Florida. The Property is comprised of six buildings totaling 45,866 square feet on a large 3.41-acre parcel of land. The Property is 86.9% leased and offers significant upside through the lease-up of the vacant units and by increasing below market rents to market rates upon renewal or through the restructuring of existing month-to-month agreements. The Property offers ample parking and features great visibility and signage along Old Dixie Highway. The Dixie Commercial Center is well-located along Old Dixie Highway and is 0.2-miles from the intersection with 12th Street. Additionally, the Property is 0.5-miles from the Publix-anchored 12th Street Plaza and US Route 1, the region’s primary commercial corridor with numerous national retailers driving traffic to the area. Vero Beach is part of what’s known as the “Treasure Coast” of South Florida and is reportedly home to more retired Fortune 500 CEOs than any other location in the world. One of the main attractions to the area besides the beaches is Disney’s Vero Beach Resort, the first Disney Vacation Club to be constructed outside the Walt Disney World Resort area.
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.