Shopping Center Commands $3.45 Million

Oct 16, 2012 No Comments by

Edgewood Isle, a 78,000 square foot grocery anchored shopping center in Orlando, has commanded a sales price of $3.45 million.

Mark Thompson, a Senior Associate in Marcus & Millichap’s Orlando office, procured the buyer on behalf of the seller, a private investor from California.

Edgewood Isle is ten minutes south of downtown Orlando. Built in 1964 and renovated in 1989, the shopping center is in the path of growth directly south of the Kimko project “SODO”. Edgewood Isle’s tenant mix includes Save-a-Lot, Family Dollar, Pizza Hut and Pinch-a-Penny.

“Edgewood Isle was the ‘value-add’ grocery anchored center that much of the investment community has desired over the last eighteen to twenty-four months,” said Thompson. “The buyer is looking to redevelop the property and improve the shopping center’s curb appeal thus attracting quality retail tenants to the city of Edgewood.”

 

Source:  CityBiz

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Industry News, NA, Retail
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