Forge Capital Partners and The Sembler Company have sold the Causeway Shopping Center in Melbourne to a private California-based real estate investment group for $16.5 million. TSCG’s Anthony Blanco represented the sellers, and Darrell Deshaw of Western Retail Advisors represented the buyer. The center is at 243 E. Eau Gallie Boulevard in Indian Harbour Beach.
Originally built in 1966 and renovated in 2008, Causeway Shopping Center totals 111,816 square feet and was 85% leased at the time of sale. Ross Dress for Less, Michaels, Office Depot and Bealls anchor the property.
Founded in 2001 and based in Tampa, Florida, Forge Capital Partners, is a private real estate investment firm focused on the ground-up development and re-development of grocery-anchored commercial retail real estate throughout the southeastern United States and Puerto Rico.
Sembler is a retail real estate developer, owner and third-party services provider. They are involved in development, redevelopment, leasing, property management and investments throughout the Southeast.