NAI Realvest Negotiates Purchase of 154,000 Square Foot Neighborhood Shopping Center in Casselberry for $7.175 Million

Casselberry, Fla. – NAI Realvest, based in Orlando, recently negotiated the $7,175,000 purchase price for the 154,323 square foot retail center known as Greater Marketplace located at 1006 SR 436 in Casselberry north of Orlando. NAI Realvest broker associate Drew Saphos, CCIM, along with chairman George Livingston, and principal Christie Alexander, represented the Pompano Beach buyer JAB Shopping Center II, LLC who has anchored the center with a new metro Orlando location for Baer’s Furniture. “This new Baer’s Furniture showroom will synergize with the Winter Garden location opening later this year to bookend the Orlando MSA with locations on the eastern and western sides of the metro area,” Saphos said. Existing tenants at the center include Bank of America, Verizon, Planet Fitness and Colorado Fondue Company. The seller, Greater Properties, Inc. was represented in the transaction by Crossman & Company.