ORLANDO—Bellair Plaza, Daytona Beach's largest shopping center, has traded hands. Nightingale Properties and DRA Advisors Inc. acquired the asset for $23 million.
Built in 1960 and renovated in 2006, Bellair Plaza is a neighborhood shopping center located on State Road A1A and anchored by a high-volume, 44,270-square-foot Publix supermarket. The 346,249-square-foot shopping center is located at 2500 North Atlantic Avenue.
Casey Rosen and Dennis Carson, Miami-based professionals with CBRE's National Retail Investment Group, advised the seller, PMAT Bellair, LLC, of Mandeville, LA. The shopping center is only 67% occupied, making it a value-add opportunity for the buyers.
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