Bellair Plaza is a heavily trafficked 350,000 square foot power center anchored by a high volume Publix, Bealls Department Store, Bealls Outlet, Dollar Tree, Dots, Ruby Tuesday, and Walgreens in Daytona Beach, FL. The property was built in 1960 and benefited from both excellent ingress and egress with five points of entry and strong traffic counts of approximately 27,500 cars per day along A1A. The area had a dense residential component pulling from the mainland as well as beachside and is a tourist hotspotfor many beach vacationers, bikeweek enthusiasts, and race fans. Daytona events have attracted 9,000,000+ tourists annually.
While the previous ownership had started a renovation, they were prepared to sell the asset after their addition of the new Publix grocer anchor but before completing the renovation and re-tenanting of the approximately 100,000 square feet of vacancy. PMAT finalized the remaining renovations such as façade upgrades, painting, landscaping, and parking lot upgrades. Additionally, PMAT leased approximately 75,000 square feet bringing the property to over 93% occupancy in less than two years.