Dothan, Ala. — Pegasus Investments Real Estate Advisory Inc. has arranged the $4.7 million sale of a newly constructed retail center located in Dothan known as Dothan Commons. The property was 100 percent leased at the time of sale to tenants such as Starbucks Coffee, AT&T, Jersey Mike’s Subs, Merle Norman Cosmetics, Southern Nutrition and Everly Nail Spa. David Chasin of Pegasus represented the seller, an undisclosed retail and shopping center developer based in the Southeast, in the transaction. Bill Howard of Bennett Realty & Development represented the buyer, an undisclosed high net-worth investor. Tyler Johnson of Pegasus Capital Markets Inc. also secured debt financing on behalf of the buyer. Seth Bell of Pegasus Asset Management Inc. is providing ongoing property management for the center.
Pegasus Arranges $4.7 Million Sale of Starbucks-Anchored Retail Center in Dothan, Alabama