In October 2024, Mosaic Realty Partners acquired Volusia Square, a 193,923 square foot retail shopping center located in Daytona Beach, Florida, adjacent to the Daytona International Speedway. The Property is 97% occupied by 15 tenants. Anchors include Home Depot and K1 Speed (shadow anchors), Urban Air, Restaurant Depot, Amped Fitness and Ollie’s. Other notable tenants include Cava, Buffalo Wild Wings, LensCrafters, Dollar Tree and Arby’s.
Daytona Beach has 701,000 residents with an average household income of $83,854; however, tourism attracts 10.1 million visitors annually. More people have been moving to the Daytona Beach submarket in recent years, driven by retirees, remote working, and people relocating from more expensive urban areas. The population growth in Volusia County has been approximately 12% from 2020 to 2023.
Buoyed by demand from a mix of tourists and locals, Daytona Beach’s retail market has a low vacancy rate of 3.4% as of Q1 2024 and rents increased 4.8% year over year. Volusia Square has a key location next to both Daytona International Airport and the Daytona International Speedway. It has excellent signage, and good ingress/egress abutting International Speedway Boulevard (47,500 vehicles per day), a primary Daytona retail hub and thoroughfare.