Fairfield real estate investment firm pays $12.2M for Fla. retail center

Lamar Cos., a real estate investment firm based in Fairfield, has purchased a 204,185-square-foot retail center in Florida for $12.2 million, JLL Capital Markets said in a statement.

Lamar acquired the Volusia Square shopping center, located in Daytona Beach, in a joint venture with real estate company Real Capital Solutions, JLL said.

The JLL investment sales advisory team representing the seller was led by Senior Managing Directors Coler Yoakam and Brad Peterson, Senior Director Whitaker Leonhardt and Associate Tommy Isola.

“Daytona Beach is booming right now, with lots of new residential development geared toward active adults seeking the wide amenity base and quality of life the area offers,” Leonhardt said. “International Speedway Boulevard is the hub of the area, and Volusia Square, with its prime positioning located right off of interstates 95 and 4, will attract lots of tenant interest that listen to the story of what is going on in the area.”