Two area investors have acquired retail properties in Virginia and Florida in deals brokered by a Long Island firm.
Seaford-based Petrakis Properties, a commercial real estate investment firm headed by Peter Petrakis, acquired a retail strip center in Norfolk, Va.
Petrakis purchased the 5,400-square-foot building on .67 acres at 1877 E. Ocean View Ave. for $1.3 million.
The three-store strip is anchored by a 7-Eleven, with a lease that expires in Aug. 2026. The other tenants are East Tide CBD and Ocean Coin Laundry.
The sale price equates to a 6.75 percent cap rate.
Adam Silber, principal of Plainview-based Silber Investment Properties represented the buyer, while his Silber Investment Properties colleague Chris Madlon represented the Norfolk-based seller, G&G Cape View LLC, in the sales transaction.
Chili’s restaurant at 940 U.S. Highway 1 in Vero Beach. / Courtesy of Silber Investment Properties
In the second deal, FMJ Properties LLC, an affiliate of a New York-based commercial real estate investor, acquired a restaurant property in Florida.
FMJ purchased the 5,688-square-foot restaurant building on 1.91 acres at 940 U.S. Highway 1 in Vero Beach for $2.55 million.
The property is triple-net leased to a Chili’s restaurant, which recently extended its lease for 10 years. The lease is backed by publicly traded Chili’s owner Brinker International, which has over 1,600 locations, according to a broker on the deal.
The sale price equates to a 5.7 percent cap rate.
Nicolas Anzalone of Silber Investment Properties represented the buyer, while his Silber Investment Properties colleague Madlon represented the seller, 940 US 1 LLC, in the Vero Beach sales transaction.
Several hundred people gathered in Vero Beach and Port St. Lucie the morning of Sept. 1 for Labor Day protests dubbed “Workers Over Billionaires,” planned nationwide and calling for an end to what organizers called the “billionaire takeover” impacting working-class individuals.
“A lot of people recognize that freedoms are being stripped away from the population, and things are getting scary. It is time for the people to step up and make their voices heard,” St. Lucie County Democratic Party Executive Board Chair Andi Poli said.
Two events took place on the Treasure Coast: at 58th Avenue and State Road 60 in Indian River County, and along U.S. 1 in St. Lucie County in front of the MidFlorida Credit Union Event Center.
The demonstrations are targeted to unify working-class people against billionaires who “are stealing from working families, destroying our democracy and building private armies to attack our towns and cities,” according to the May Day Strong website that organized the rallies.
“He’s (President Trump) just dismantling our democracy, one institution at a time.” Vero Beach resident Pat Holland said. “Every time we have a demonstration, I hope that it gets bigger because people are not putting up with it.”
May Day protests kicked off on May 1, followed by the “No Kings Day” and “Good Trouble Lives On” protests in June and July, respectively. The Labor Day rally continues the movement.
Kaila Jones is a visual journalist for TCPalm and Treasure Coast Newspapers. You can reach her at kaila.jones@tcpalm.com and can view some of her recent work here.
Exceptional homes like this contemporary mansion in McLean, Virginia showcase the growing number of … [+] luxury offerings coming to smaller markets across the country.
Long & Foster Real Estate
While major markets like New York City and San Francisco encompass much of the premier real estate in the world, smaller cities and towns across the United States are by no means without their fair share of exceptional homes.
Check out these incredible properties from distinct markets around the country climbing from $5 million to $10 million:
Despite being located on three acres enclosed by natural preserves, this five-bedroom home is less … [+] than fifteen minutes away from downtown Austin.
Moreland Properties
$5.9 Million (Austin, Texas)
It’s rare to find a private property bordered on all sides by wilderness preserves and it is rarer still for that property to be located in a major metropolitan area. Such a location seems surreal, if not oxymoronic—a sprawl of land at once rustic and urban. Yet this seemingly impossible combination exists at 901 Wild Basin Ledge. Located just 15 minutes from downtown Austin, the 3-plus-acre property sits in a pocket of the Wild Basin Wilderness Preserve.
The property’s serene natural beauty is paired with a prime city location.
Moreland Properties
Winding paths canopied by a density of trees lead through the private patch of land which includes two homesites. Already existing on one site is a well-maintained, five-bedroom home. The two-story residence features an array of natural accents to mirror its stunning surroundings, including a live-edge wood pillar, stone fireplace and hardwood floors. Dotted across the lush grounds are sitting areas, a garden and camping sites, making for one of the most secluded and serene estates in all of Austin.
Tucked away in a cul-de-sac and bordered by hillside and trees, this Westport home is a private … [+] sanctuary.
The Higgins Group Private Brokerage
$6.8 Million (Westport, Connecticut)
Tucked away within the quiet enclave of an appropriately named street, the residence at 2 Hidden Hill Road ensures seclusion without sacrificing size. Covering a remarkable 10,000 square feet, the hillside mansion set against a backdrop of mature trees is grand in both appearance and appointment. High-end finishes and tasteful detailing elevate the home’s classic New England design. The sizable interior allows for an array of elegant interior spaces, including multiple parlors, a formal dining room, and an open-concept kitchen.
The remarkable 10,000 square feet of interior space allows for multiple parlors and living areas.
The Higgins Group Private Brokerage
Throughout the mansion, fireplaces contribute to a warm and inviting atmosphere, adding a touch of coziness to the overall grandeur. Outlining the second story, multiple balconies, including those seen in the primary suite, overlook the lush, tree-filled surroundings. An intimate backyard houses a generous manicured lawn, terrace, and expansive swimming pool. Located mere blocks away from Compo Beach, the sophisticated mansion doubles as a seaside retreat.
Presented by Dale Sorensen Real Estate, this Mediterranean-inspired abode sits moments away from the … [+] beach.
PVmedia
$7.5 Million (Vero Beach, Florida)
While Riomar may not be a household name, to the Vero Beach community on the eastern coast of Florida, the neighborhood is synonymous with affluence. Located on a barrier island with two waterfronts, Riomar is known for its exceptional homes, like this oceanside estate at 865 Riomar Drive. Stripped to the studs in 2013, the three-bedroom, three-bathroom home has undergone a series of renovations, including some as recently as this year.
A light color palette allows for an emphasis on rich wood accents.
PVmedia
The Mediterranean-inspired home features a refined color palette of soft whites accented with dark wood elements, seen in the ceiling beams, rounded-trim archways and built-in bar. Limestone floors run throughout. In addition to the main house, a one-bedroom, one-bathroom guest house is also located on the property. Outdoor spaces are plentiful, including covered terraces, a putting green and a swimming pool and spa, all with the sounds of the beach that sits one block away.
Covering the entire corner, this La Jolla property features an array of courtyards, patios and other … [+] outdoor spaces.
John Riedy
$8.6 Million (La Jolla, California)
Matching its moniker, “Estrella del Mar,” 306 Sea Lane sits in a perched position overlooking the ocean. The landmark, Spanish-style home sits in one of the most sought-after corners of La Jolla’s historic Beach Barber Tract neighborhood, moments away from the sand. Completed in 1925 by master architect Herbert Palmer, “Estrella del Mar” received a complete renovation in 2005, although its original character remains. Wood elements dating back to its construction can be found throughout, including in the balusters and railing of the original staircase.
Multi-fold doors allow for a seamless indoor/outdoor living space.
John Riedy
Archways, mosaic tiling and iron French doors decorate the home’s intimate chef’s kitchen. Indoor/outdoor living is given priority with access from nearly every room to a courtyard, balcony or private outdoor space. Standing apart thanks to a wealth of amenities, the primary suite includes a fireplace, ocean views through a bank of west-facing windows and spa bathroom complete with a Beaumanière limestone walk-in, steam shower and a Kallista clawfoot bathtub. Other highlights include a 950-bottle wine cellar, art studio and outdoor shower.
A heated, saltwater pool with a waterfall is one of many luxury amenities found throughout the … [+] property.
Long & Foster Real Estate
$9.2 Million (McLean, Virginia)
Tucked away on the western side of the Potomac River, McLean, Virginia, has been home to the likes of Dick Cheney, Anthony Kennedy and President Joe Biden and First Lady Jill Biden. As such, the area has built a reputation as one of the most exclusive and secure places to live in the country as well as the locale for exceptional homes like the contemporary masterpiece found at 410 Chain Bridge Road. Featuring a sleek, European design by architect Mark McInturff, the 8,350-square-foot home was completed in 2016. Free of traditional adornments, the front exterior is a masterclass in modern design, with a smooth stucco and concrete facade in harmony with steel beams.
Clean lines and lack of adornment give the home a modern feel.
Long & Foster Real Estate
Inside, luxury brands are enlisted to heighten an already opulent interior, including a bespoke chandelier by Manooi, custom Boffi Italian cabinetry and a maritime-themed center island by Alno. Technology is quietly implemented throughout the five-bedroom home with automated lighting, audio and video systems as well as automatic shades and roller screens and a hydronic radiant heating and geothermal system. Other notable amenities include a heated saltwater swimming pool, oak and limestone flooring and 25-foot ceilings.
Evoking luxury Scandinavian designs, the penthouse residence implements natural material accents.
Slifer Smith & Frampton Real Estate
$10 Million (Snowmass Village, Colorado)
With Residence 651 under contract for a record $4,932 per square foot, there is only one remaining Grand Penthouse at the brand-new luxury development, Cirque X Viceroy in Snowmass Base Village. Penthouse 664 at 130 Wood Road, also known as Grand Penthouse West, sits on a premier corner of the upcoming addition to the Viceroy Snowmass. Inspired by Scandinavian designs, the luxury ski-in/ski-out penthouse showcases clean lines and natural material accents.
Views of the mountainous landscape can be seen from almost any room in the top-floor residence.
Slifer Smith & Frampton
Infinity doors and vaulted ceilings make for a bright and airy living space. Sprawling windows are ubiquitous throughout the 2,380-square-foot residence, opening to a stunning scene of Wildcat Ridge. Future owners will have access to the resort amenities offered by the Viceroy Snowmass, including in-room dining, full-service ski valet and an on-site concierge as well as the hotel’s pools, spas and fitness center.
The beachfront estate in Vero Beach, Florida, offers private access to the sandy shores of Floralton … [+] Beach.
Dale Sorensen Real EstateForbes Global Properties
Private beach access as part of homeownership in a community is certainly a premium perk. But even better is direct access from your own backyard.
An oceanfront residence set at the south end of Florida’s Vero Beach barrier island enjoys both. Neighbors can reach the quiet stretch known as Floralton Beach through a dedicated path while public access is several miles away.
The home features a unique geometric design with interesting details from front to back.
Dale Sorensen Real Estate
The owner of this 7,800-square-foot home can just take the long boardwalk, which steps down from the swimming pool area and crosses over low-lying vegetation before ending on the sand. The nearly 1-acre property spans 123 feet of beachfront.
The location has other benefits too, says Matilde Sorensen, who has the listing at Dale Sorensen Real Estate. “The neighborhood is very established, with access to the Moorings club.” The private Moorings Yacht & Country Club includes a championship golf course, tennis pickleball courts and a clubhouse, among other amenities.
The floor plan was designed to make the most of panoramic ocean views.
Dale Sorensen Real Estate
Sheltered by tropical foliage, the residence is reached by way of a circular paver driveway that leads to a three-car garage and then passes under a hipped roof portico.
Designed by Edlund, Dritenbas, Binkley Architects and Associates and built by Proctor Construction Company, the home has an appealing geometric design utilizing a variety of wings, projections and rooflines. An additional 1,400 square feet of outdoor living space is under roof.
Glass doors topped with clerestory windows keep the interior nice and bright.
Dale Sorensen Real Estate
Inside, the 22-foot tall grand foyer reveals floor-to-ceiling windows, a winding staircase and pool views.
The first level contains one of the home’s two kitchens, a living area with a fireplace, library and four en-suite bedrooms, all of which open to wraparound deck space. The kitchenette has easy access to the pool for grabbing a snack or beverage.
The family room is enhanced by a large fireplace.
Dale Sorensen Real Estate
Upstairs are living and dining rooms, an office and the dual-bathroom primary suite for a total of five bedrooms and seven bathrooms throughout. A balcony off the primary bedroom overlooks the 40-foot long swimming pool and spa.
The second-level kitchen has a center island, an adjoining breakfast nook with banquette seating and French doors leading to the deck. There’s also a semicircular wet bar with a sink.
A wrap=around balcony overlooks palm trees and the ocean.
Dale Sorensen Real Estate
A second staircase and elevator connect the two floors. In keeping with the home’s footprint, many of the interior walls are angled.
“This house is ideal for a large family, people who host or a vacation home,” says Sorensen. The asking price for 901 Reef Road is $7.3 million.
Five bedrooms includes a spacious primary suite with an adjoining balcony that overlooks the pool.
Dale Sorensen Real Estate
A back patio area features covered patio space and a large swimming pool with a spa.
Life on the Indian River means some of your Sailfish Road neighbors are manatees.
Tracey C. Higginbotham II / Dale Sorensen Real Estate
Forbes Global Properties
Riverfront homes come with the built-in benefit of backing up to a tranquil, natural setting. In Vero Beach, Florida, houses along the Indian River, just inland from the Atlantic Ocean, have the added advantage of being located on one of the most ecologically diverse estuaries in North America.
“There are only so many places in the country where you can wake up and enjoy a cup of coffee and see dolphins and manatees swimming in your backyard,” says agent Michael McCauley of Dale Sorensen Real Estate. Along with wildlife sightings and spectacular sunrises, residents enjoy fishing and boating as well as proximity to the ocean without having to go far.
The $5.35-million home at 1 Sailfish Road, Vero Beach, has 200 feet of waterfront.
Tracey C. Higginbotham II / Dale Sorensen Real Estate
What else? The river area (technically, it’s an estuary) has become one of the most sought-after second-home markets in the United States because of its “wealth of scenic natural beauty,” according to a Forbes story.
Three Vero Beach homes currently on the market possess amenities that elevate the waterfront experience.
A rare find: The Vero Beach home is on a river and has its own lazy river.
Tracey C. Higginbotham II / Dale Sorensen Real Estate
For example, the three-story house at 1 Sailfish Road has enough dock space for a luxury boat. It offers 200 feet of waterfront and panoramic views of two bridges that span the wide estuary. The property with four bedrooms and five bathrooms in almost 5,000 square feet keeps nature close, with large view windows in just about every room. Three heated pools, including an infinity pool and a lazy river, and an outdoor kitchen make it perfect for entertaining. The price is $5.35 million. David Decker and Stacey Morabito are the listing agents.
The riverfront home at 5230 Saint Andrews Island Drive, Vero Beach, is offered at $12 million.
Dale Sorensen Real Estate
The custom-built Palacio Del Rio at 5230 Saint Andrews Drive embraces Mediterranean style inside and out. The five-bedroom, six-bathroom home with expansive river views comes with extras, such as a home theater, two-story library accessed via a spiral staircase, elevator, pool and large outdoor lounge spaces.
The boat dock is right outside the back door of this Marsh Island home.
Dale Sorensen Real Estate
The riverfront home at 9160 Marsh Island Drive is located on an island in the river connected by a bridge to the mainland. The design capitalizes on the home’s tranquil setting with large arched windows in the dining room and family room. The primary bedroom comes with a bathroom, sauna and private laundry area. There’s also a pool and guest house on the property as well as a boat slip. The cost is $3.45 million. Sarah Tafoya is the listing agent.
Life here is all about having the waterfront at your doorstep. The 156-mile-long estuary that carries a mix of saltwater from the Atlantic Ocean and freshwater from inland tributaries creates a brackish brew where mangrove forests, salt marshes and thousands of animal and plant species thrive.
The home at 9160 Marsh Island Drive, Vero Beach, is priced at $3.45 million.
Dale Sorensen
“Homeowners on the river enjoy a certain luxury that is unique,” McCauley says. “If you’ve ever loaded up a boat and trailed it to a boat launch and waited in line to get it into the water, then you understand how amazing it is to decide you want to be on the water and be enjoying that experience within 10 minutes.”
Dale Sorensen Real Estate is an exclusive member of Forbes Global Properties, a consumer marketplace and membership network of elite brokerages selling the world’s most luxurious homes.
