ComReal Brokers Sale of Two Retail Strip Centers

Written by Yarisley

July 31, 2020

5841 W Flagler and 5775 W Flagler were developed in 1971, and 1965, respectively. The father of the seller identified West Flagler Street as a vital and prominent thoroughfare connecting Miami-Dade county from East to West. Understanding this essential thoroughfare, he then developed the properties to accommodate commuters who travel this road daily, and the members of the sprawling community.

The properties since that time have remained at, or near 100% occupancy and have played an important role in the community. At the time of the sale, 5841 W Flagler had five tenants and one vacancy due to an eviction; while 5775 was a one tenant building occupied by a long-term fashion store.

Given the high demand for retail property along this corridor of West Flagler Street, both properties had multiple contract offers. 5841 W Flagler was under contract for 45 days, while 5775 W Flagler was under contract for 120 days with two extensions. “Each property had significant interest from investors given the strategic positioning of the properties. West Flagler has significant daily traffic which yields great exposure for business” Gavin Winston, seller’s representative, states.

In marketing the property, Mr. Winston advertised to 8,500+ commercial property owners to generate exposure for the properties. “My algorithm markets Real Estate directly to the buyers most likely to take action on the property” Mr. Winston states. This marketing practice generated significant interest on the properties and produced the buyer of 5841 W Flagler. Mr. Winston’s database is constantly growing thanks to cutting-edge technology that combs through public records to identify and extract information on business owners and landlords most likely to need the service of a Commercial Real Estate Expert. 

ComReal is a pioneer in technology for Real Estate dating back to the 70’s being one of the first companies in South Florida to adopt the use of computers in daily Real Estate practice. Fast forward to 2020, this technology-first approach to brokerage has been ingrained in its DNA.

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