The Shops at Beach was a retail investment located on the signalized corner of Beach Boulevard and Ball Road, which saw astounding average daily traffic counts of over 85,000 cars per day. Additionally, the property benefited from excellent signage on Beach Boulevard, strong current tenancy and strong parking counts.
Sale and Return on Investment
OneV Capital purchased the property in late 2014 with the intent to re-tenant the failing RadioShack tenant soon after the close. Within the first few months of ownership, the tenant had been replaced with a brand new Sprint store paying market rent.
After re-tenanting the RadioShack space and making small capital improvements on the property, OneV capital listed the property for sale and was able to source an all cash, 1031 exchange Buyer. The property closed at a record cap rate for the area and resulted in an annualized ROI of approximately 127%.