DAYTONA BEACH, Fla. --- NAI Realvest recently negotiated the purchase of a 5.44 acre beachfront development site at 801-905 S. Atlantic Avenue in Daytona Beach for $6,000,000.
Chris Butera associate at NAI Realvest in Maitland, negotiated the sale representing the buyer Toronto-based Bayshore Capital. The seller is Regions Bank of Birmingham, Ala.
The site is comprised of four separate lots and three former beachfront motels that AJ Daytona Developers acquired for $26 million in 2004 and combined into a single parcel for development of a luxury hotel before Regions foreclosed in 2009
Located in the core Daytona Beach tourist area, the site ranks as the largest and highest-priced oceanfront parcel to sell in all of Daytona Beach in recent years.
“Bayshore Group has been acquiring strategic development sites in the Daytona Beach area for several months,” Butera said. “They were a perfect match for this site.”
Since last August, Bayshore Group has spent more than $14 million to acquire beachfront sites in Daytona Beach that total more than 12 acres in four separate transactions.
About NAI Realvest
NAI Realvest, covering all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. NAI Global is an international commercial real estate network with over 350 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network. Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.NAIRealvest.com.
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