DAYTONA BEACH, FL—Rockbridge has sold The Shores Resort & Spa, a 212-room, luxury beachfront hotel in Daytona Beach, FL. Originally built in 1974, The Shores underwent a $30 million renovation in 2005, and is the only AAA Four Diamond-rated hotel in Daytona.

Garrison Investment Group acquired the asset, which is located at 2637 South Atlantic Avenue on Daytona Beach Shores, a five-mile long barrier island between the Atlantic Ocean and the Intracoastal Waterway. HFF managing director Scott Hall, senior managing director Dan Peek, and associate directors Paul Hsu and Michael Weinberg, represented the seller.

“The market for Florida oceanfront resorts is as strong as it has been since 2006 or 2007,” says Peek. “Resort asset performance and market values are expanding beyond Southeast Florida and every corner of the state is in the growth mode.”