VERO BEACH, Fla. (December 3, 2018) – Grover Corlew, a real estate investment management group focused on acquiring, developing and operating office, retail and multi-family properties across the Southeast U.S., has sold a .7-acre site, which is the remaining parcel of its 3.5-acre development site in Vero Beach. The property sold for $1.46 million and is currently leased by MedExpress, a 4,707 sq.-ft. urgent care walk-in clinic that opened over the summer.
In 2015, Grover Corlew purchased the combined 3.5 acres of land on U.S. Highway 1 in Vero Beach, then a Vatland auto dealership, and cleared it for redevelopment. Wawa and Popeyes Louisiana Kitchen are also located on the property.
“This land acquisition has been another profitable project for our firm,” said Partner Anuj Grover. “We initially identified this stretch of land in Indian River County as a solid long-term investment opportunity due to its prime location on U.S. 1. At that time, the city’s revitalization efforts were taking place. Our instincts were correct, and the city now has three new well-known brands that will only continue to attract more redevelopment to the area.”
Britt Raymon and Kyle Fant of SRS National Net Lease Group represented Grover Corlew 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 has offices in South Florida, Orlando and Atlanta and provides in-house asset management and property management services. The company is also an active developer with in-house development expertise as well as strategic relationships with tenants and local developers throughout the Southeast U.S.