Exposition Properties sold Live Oak Shopping Center to Dorsey Development for $14 million. The 107,065-square-foot retail center is located at 1151 Gulf Breeze Parkway in Gulf Breeze, FL.
Brad Peterson and Whitaker Leonhardt of Colliers represented the seller. Chris Dozier of Kuebel Realty Company represented the buyer. Michael Matthis with United Community Bank originated the loan.
Surrounded on three sides by Pensacola Bay and the fourth side by the Live Oak Nature Preserve, Live Oak Village Shopping Center is anchored by a dual-branded Bealls and Home Centric.
Together, the two brands occupy approximately 25,000 square feet at a blended base rent well below market rates, offering an opportunity for future rent growth.
Headquarterd in New Orleans, Dorsey Development is an integrated commercial real estate company with property throughout the Gulf Coast. The company has developed over 2.3 million square feet of retail space for national retailers.
The post Dorsey Development Adds Gulf Breeze Retail Center to Gulf Coast Holdings appeared first on Connect CRE.
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