JLL represented the vendor of the lately renovated property.
V3 Capital Group has acquired Wekiva Sq., a 175,175-square-foot retail middle in Altamonte Springs, Fla. Coro Realty Advisors offered the asset for $23.5 million. In keeping with CommercialEdge, V3 financed the acquisition with a $16.8 million mortgage from Ocean Financial institution. JLL represented the vendor.
Accomplished in 1981, Wekiva Sq. includes seven buildings throughout roughly 15.8 acres, CommercialEdge information exhibits. Kohl’s, HomeGoods and Greenback Tree anchor the 99.1 percent-leased property that was most lately renovated this 12 months. HomeGoods and Greenback Tree have been working on the location for greater than 10 years.
The purchasing middle is positioned at 945 Semoran Blvd., at a busy intersection with 24 lanes and a site visitors depend of 115,000 autos per day. Downtown Orlando is a few 12 miles south.
JLL Senior Managing Director Brad Peterson, Senior Director Whitaker Leonhardt and Affiliate Tommy Isola led the group which negotiated on behalf of Coro Realty. Earlier this month, the brokerage agency organized the disposition of Deerwood City Middle, a 205,853-square-foot retail middle in Miami.
Even with the newest inflationary pressures, retail fundamentals stay stable and spending continues to develop. Acknowledging the market’s potential, Peterson said in ready remarks that the investor’s vivid curiosity in Wekiva Sq. proves the retail sector remains to be extremely sought-after.
