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As Development Quickens East Of I-295, Strip Mall Sells For $4.7 Million

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An Ormond Beach investor has bought a strip mall and office building on Beach Boulevard in a multi-million dollar deal.

The Millennium Business Center went for $4.7 million in a deal that closed Monday.

The center is about a half-mile east of I-295, with Kernan Boulevard two miles to the west. It’s fully leased, according to Prime Realty, the broker on the deal. Its main tenants are MCCI Medical Group and Mattress One.

The sale comes as more investors are looking for space east of I-295, which has seen growth in the residential market.

Timothy is editor in chief of the Jacksonville Business Journal.