NAI Realvest / Charles Wayne Commercial Closed on $2.7 Million sale of Ormond Beach A1A Plaza
Ormond Beach, Fla. -- NAI Realvest | Charles Wayne Commercial closed on the sale of Aliki Plaza, a 29,730 square foot beachside shopping center at 378-404 S. Atlantic Ave. (US Highway A1A) - Ormond Beach’s second largest beachside shopping center, which is home to 18 tenants sold for $2.7 million.
Charles Lichtigman, principal of NAI Realvest/Charles Wayne, and Brad Gifford, who leases the Plaza, negotiated the sale on behalf of the Seller, Sunbelt Holdings Daytona, LLC. Sunbelt is owned by longtime Daytona area investor Hugh Upton. The Buyer, Aliki Plaza of Ormond Beach, LLC, whose principal is Ty Lohman, was represented by Carl Lentz of SVN Alliance.
The plaza, built in 1985, was 90 percent leased at the time of the sale. Daytona Beach Welcome Center, Weichert Hallmark Properties and Coldwell Banker Premier Properties are among the long term tenants.
“Beachside commercial property prices are growing - driven by increased tourism, and major new hotels coming into the market, including the Hard Rock and the 27-story Daytona Resort,” said Lichtigman. “We’ve seen investors – both local and from out of the area – with record interest in locations along Daytona’s beachfront.”
NAI Realvest | Charles Wayne was formed as a strategic partnership between NAI Realvest and Charles Wayne Properties in 2017. The brokerage has top experts in every aspect of commercial real estate and a global reach.
Charles Wayne Properties, has been serving the commercial real estate community since 1978. Charles Wayne Properties, Inc. is one of central Florida’s largest real property owners and management firms, with primary offices located in Orlando and Daytona Beach.