Dundas Real Estate Investment has closed on the purchase of the Ocean Walk Shoppes, a open-air movie theater-anchored entertainment and retail center in Daytona Beach. Changing hands for $7.65 million, the six story 11,646 sqf property is located across the street from the 5,000 person Daytona Beach Bandshell amphitheater at 250 North Atlantic Avenue. The facility features a 10-screen Paragon Theaters and national tenants Bubba Gump Shrimp Co., Sloppy Joe’s, Wyndham Worldwide, Ker’s Winghouse, Johnny Rockets, Sunglass Hut and Cold Stone Creamery. Holliday Fenoglio Fowler arranged the sale for an LNR Property subsidiary.
“Ocean Walk Shoppes garnered tremendous investor interest due to its prominent location in a well-known tourist area in the heart of the ‘World’s Most Famous Beach’,” said Whitaker Leonhardt, associate director HFF. “It was amazing how many investors knew the asset from personal family vacations they had made to the area. With a successful theater, high-volume restaurants and proven shop tenants, Ocean Walk Shoppes will continue to gain both tenant and customer interest.”
