Ram Sells Sand Lake Plaza

Apr 11, 2013 No Comments by

Sand Lake Plaza just traded for $4.7 million.

Boca Raton-based Harvest Holdings acquired the retail asset from an affiliate of Ram Realty Services and Square Mile.

Ram had acquired the property through a loan portfolio purchase in 2010. Located at 1431 West Sand Lake Road, the 25,116-square-foot retail center is 100% leased.

“The sale of Sand Lake Plaza provides further confirmation that the investment market is returning to equilibrium,” says Daniel Baker, CBRE first vice president, who represented the seller. “The sale was as much about underwriting the buyer’s capability to close the transaction as it was about understanding the asset.”

Built in two phases, in 1995 and 2005, Sand Lake Plaza is a high-exposure, high-identity location just east of South Orange Blossom Trail and across from the Florida Mall, the largest shopping mall in Central Florida. The center is located in one of Orlando’s most prominent shopping and tourist destinations and contains national tenants such as Dollar Tree, International Diamond Center, Amscot, Metro PCS, and Clear Channel.

 

Source:  GlobeSt.

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Industry News, NA, Retail
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