NAI Realvest Negotiates Sale / Leaseback of Free-standing Retail Building on 17-92 in Casselberry
Casselberry, Fla. – NAI Realvest, based in Orlando, recently negotiated a $650,000 value-add sale of the free-standing retail building at 3405 S. US Hwy 17-92 in Casselberry.
Paul P. Partyka, CCIM MiCP, partner at NAI Realvest, negotiated the transaction on behalf of the buyer Winter Springs investor Kwoks, LLC who purchased the property from a subsidiary of the long-time occupant of the 4,529 square foot building, For Eyes Optical.
The sale includes a multi-year leaseback of the property that allows For Eyes Optical to continue its operation of providing eye exams and eyeglasses at the Casselberry location. Todd Weintraub of CBRE negotiated the agreement on behalf of For Eyes Real Estate, LLC.
A sale-leaseback transaction is a well-known strategy that offers flexibility, raises capital and focuses a company’s resources on its core profit-making business, Partyka said. “Additionally, the new owner will be renovating the building to create space for an extra tenant.”