Prime Vero Beach development site now home to iconic convenient store
VERO BEACH, Fla. (December 19, 2016) – G&C Holland Vero Investors LLC, an affiliate of real estate investment group Grover Corlew, has sold 1.83 acres of a 3.5-acre development site at U.S. 1 and 12th Street in Vero Beach for $5.055 million. The property sold is currently leased by Wawa, considered one of America’s most popular convenient stores, which opened Dec. 1.
“We recognized that Indian River County and the stretch of land on U.S. 1 between 20th Street and 8th Street was ripe for commercial redevelopment. That’s why we invested in the purchase of that site,” said Partner Anuj Grover. “We specialize in identifying, acquiring and developing or re-developing properties that are long-term, value-add investments.”
In 2015, Grover Corlew in partnership with Holland Retail Advisors, LLC purchased the site, then a former Vatland auto dealership. The company then cleared the land for development and signed a land lease with Wawa.
“Wawa is expanding throughout Florida. We’re excited to bring this iconic brand to Vero Beach,” said Grover. “It’s a tremendous addition to this revitalized area of the city and the sale of the land it sits on is a promising long-term investment.”
There also is an additional 1.52 acres currently for sale next to Wawa. One parcel is under contract and expected to close in January 2017. Numerous other users are considering the remaining parcel.
Calkain Companies, LLC represented G&C Holland Vero Investors, LLC in the sale.
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About Grover Corlew
Led by experienced real estate veterans who have worked together since 2002 and who have more than 40 years of combined industry experience, Grover Corlew is a real estate investment management group focused on acquiring, developing and operating office, retail and multi-family properties across the Southeast U.S. Grover Corlew serves as the asset management team for a portfolio of more than $250 million with principals Anuj Grover and Mark Corlew investing significant personal funds in every asset and providing daily hands-on asset management expertise. Grover Corlew also has comprehensively managed and operated well over one million square feet of office, retail and medical office buildings and managed thousands of apartment homes across multiple states. In addition to day-to-day management and operational services, Grover Corlew provides in-house, full service construction management and knowledgeable tenant improvement project management.
