Charles and Nicholas Hasker got their start in the property management field as teenagers in St. Cloud, mowing lawns at their parents' trailer park on Lake Runnymede.
After selling the park, the brothers accumulated several small shopping centers - always focusing on centers with long-term, mom-and-pop tenants. That's what they liked about the Cypress Trade Center, a 25,000-square-foot strip in Kissimmee they bought from the original developer in 2001.
"Five of our tenants have been at the property for 25 years," Charles Hasker told GrowthSpotter on Friday. "The average for the entire center is eight years, and we were always at least 93-percent occupied, usually 100 percent."
Hasker said they never sought to lease to national retailers. "I don't like to deal with big corporations - you only ever talk to the lawyers," he said.
After more than 40 years in the real estate business, the brothers decided to sell their assets and retire. Charles Hasker fulfilled his dream of going to college, graduating from UCF with a degree in English. He's now pursuing his second master's degree and teaching English Literature at Daytona State College.
The Cypress Trade Center was their last divestiture. They listed it with Patrick Bermin, a retail specialist with Cushman & Wakefield's Tampa office.
"We listed it in December (2015)," Hasker said. "He told us it would sell within a year, and it did."
Dominican investor Rodolfo Minaya paid $2.1 million cash through a Hialeah-based affiliate, Senda Group, for the 4-acre property at 101 W. Cypress St., just north of Vine Street.
BLive Real Estate broker Oscar Rodriguez has represented the Minaya family in several acquisitions, and he manages their properties. He said the family is still in the market for retail plazas in the Orlando/Kissimmee market.
"They like the mom-and-pop businesses," Rodriguez said. "When you don't have national companies, there's a little bit higher cap rate. It's harder to manage, but it's a higher return."