LAKELAND, FL, June 30, 2021 – SVN | Saunders Ralston Dantzler Real Estate reported the recent sale of a large multi-tenant investment property for $6,475,000. Listed by Augie Schmidt, Marvin’s Garden Business Center consists of approximately 68,392 square feet across 11 buildings of well-maintained block construction. The space was nearly fully occupied by 53 tenants at the time of sale.
Located between Daytona Beach and Jacksonville, Palm Coast is a rapidly growing market that provides incredible opportunity for commercial real estate investors. The property is located less than 2.5 miles west of Interstate 95 and is in the direct path of rapid development.
“Details are vital in every deal,” Augie said, “but having 53 tenants in 11 different buildings takes a special attention to detail. SVR Realty, Intracoastal Bank, and Bayer Law were a huge help in this transaction, and I couldn’t have done it without them. I’m glad we could put our heads together to exceed expectations and make this transaction a win for both the buyer and seller.”
The multi-tenant market is a strong asset class due to the growth of the economy and the diverse tenant base these assets provide. This property offered a mixture of local, regional, and national tenants. Nearing full occupancy in spite of the COVID-19 pandemic and with very few tenants asking for rent relief, this property sold within 1% of the listing price.
About Saunders Real Estate
Saunders Real Estate is a leading land and commercial real estate brokerage serving buyers, sellers, investors, and landowners across the Southeastern United States for 30 years. With over 100 advisors and offices in major U.S. markets including Alabama, Arkansas, Florida, Georgia, and North Carolina, we specialize in large-acreage land transactions, commercial property sales and leasing, and property management.
To reflect our legacy and continued growth, Saunders Real Estate operates through two divisions – Saunders Land and Saunders Commercial. Our expertise spans agriculture, conservation, recreation, residential development, and commercial real estate, supported by specialized services such as forestry, land management, and investment acquisitions.
Today, Saunders Real Estate is recognized as a trusted authority in the region, delivering exceptional results through experienced leadership, innovative strategies, and a client-focused approach.