The Causeway Shopping Center in Melbourne has been sold by Forge Capital Partners and The Sembler Company to a private real estate investment group based in California for $16.5 million. Anthony Blanco of TSCG represented the sellers, while Darrell Deshaw of Western Retail Advisors represented the buyer. Located at 243 E. Eau Gallie Boulevard in Indian Harbour Beach, the center was originally built in 1966 and underwent renovations in 2008. At the time of sale, it was 85% leased with anchor tenants including Ross Dress for Less, Michaels, Office Depot and Bealls.
Forge Capital Partners is a Tampa-based private real estate investment firm founded in 2001 that specializes in developing and redeveloping grocery-anchored commercial retail properties across the southeastern United States and Puerto Rico.
Sembler is a retail real estate company that offers development, redevelopment, leasing services as well as property management and investments throughout Southeastern states.
