Graham Mays, president, Interstate Investment Properties Inc. of Altamonte Springs, FL, an Orlando suburb, put the deal together. A private Boston investment group, FWI 12 LLC, bought the property from Paradise Group of Safety Harbor, FL. The initial capitalization rate on the deal is 9.25%.
The site is at Sheridan Street and SW 196th Avenue in a fast-developing area, 25 miles north of Downtown Miami.
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