NORTH MIAMI BEACH, Fla. (May 9, 2017)—Tiktin Real Estate Investment Services (TREIS) has been named the exclusive sales agent for Searstown Mall, a 285,380 square-foot retail plaza at 3550 South Washington Ave. in Titusville, Florida. Anchor tenants include Bealls Outlet, Sears and Satellite Cinemas. Adam J. Tiktin, president, and Cliff Weisner, senior associate, are heading the assignment on behalf of the ownership, and have listed the site for just over $8 million.
Located within the centerpiece of Florida’s Space Coast, Searstown Mall sits on 21.5 acres and is positioned between two major corridors, South Hopkins Ave. and US-1. The site offers high visibility, easy access, and incredible water views of the Indian River Lagoon, Kennedy Space Center and Kennedy Space Center Launch Pads.
“This prime piece of real estate offers investors a huge upside,” stated Tiktin. “Sears currently occupies just over 40% of the center and their lease expires at the end of 2019. In addition to consistent cash flow from existing tenants, this tenant vacancy will provide a rare opportunity for redevelopment of this space.”
Searstown Mall is currently 90% leased. The property was developed in 1968 and renovated in 1987. For more information, call (305) 363-4750 or (844) 4-TIKTIN or visit www.tiktinrealestate.com.