Deltona Fountains, a shopping complex located near the intersection of Deltona Boulevard and Enterprise Road in Volusia County’s most populous city, has new owners who paid $4.2 million for the mall.
The seller and buyer are both out-of-county companies: The seller was Shoppes of Orlando’s Deltona Fountains LLC, while the buyer was Miami Beach-based Deltona Center LLC, John Wanamaker of Coldwell Banker Commercial said. AI Group, which represented the seller. Gabriel Garrido was the lead agent, with help from Wanamaker.
Deltona Fountains was built in 1988 and renovated in 2020, according to a statement from Coldwell Banker. The Center of the Strip comprises 34,648 square feet located on 4.30 acres of land, with 157 parking spaces in front.
“Our relationship with the vendor is longstanding, as we previously facilitated the rental of the building to a diverse mix of commercial tenants,” Garrido said in the statement. “The property was previously at 40% tenant occupancy and through our efforts was brought to 100% occupancy, making it attractive to the new owner.”
Wanamaker said The tag that the center doesn’t really have an anchor, but Bagel King has been there for about 25 years, and a Greenberg dental practice, part of a larger chain, also has a space there. The rest of the center is occupied by local businesses, he said.
“Coldwell Banker Commercial AI Group will continue to support the needs of Deltona Fountains as the new owner has secured us for property management and future tenant leasing opportunities,” Wanamaker said in the press release.
The COVID pandemic seems to have spared businesses in the center. According to Wanamaker, none of them have closed or indicated they are about to do so.
“All tenants pay their rents,” he said. “We actually manage a dozen commercial properties, and no tenants have closed, and all are operational.”
There is no waiting list of tenants wanting to move into Deltona Fountains, Wanamaker said The tag, even if his company has spaces available in other areas. Industrial space is the smallest segment of the commercial market, he said, with few facilities built in recent years due to higher construction costs and constraints on supply chains.
Coldwell Banker Commercial AI Group was established in 2004 as a local subsidiary of Coldwell Banker Commercial and provides commercial real estate solutions to meet the needs of owners and occupiers for the rental, acquisition and disposal of all types of property. Visit www.cbcaigroup.com to learn more.
Since 1906, the Coldwell Banker Commercial brand, encompassing nearly 200 businesses in the United States and around the world, has been a leading real estate provider and recognized globally as a company that puts the customer first while providing individual and distinctly different. For more information, visit www.cbcworldwide.com.