SMD paid $6.1 million or $62.64 per sf for the shopping center at 944 E. State Road 436 and Winter Park Drive in suburban Casselberry, FL. SMD didn't disclose the seller's name but the Seminole County Property Appraiser shows the owner of record is Sheridan Casselberry LLC of Boca Raton, FL.
Winn-Dixie Stores Inc. anchors Casselberry Square. Seminole County tax records show the center has had four owners since it was built in 1974. The property was sold in March 1981 for $4.57 million; in December 1990 for $3.65 million; and in June 1999 for $5.5 million.
For tax purposes, the center is assessed at $5.5 million. The 2002 tax bill was $107,694. The total gross size of the property is 442,724 sf.
Southern Management owns and manages shopping centers totaling 4.5 million sf in Florida, Tennessee and Indiana; and 2,800 rental apartment units in Florida, Tennessee and Kentucky.
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