MIAMI—Two Publix-anchored retail properties totaling 167,400 square feet in Orlando and suburban Tampa have traded hands. Global Fund Investments purchased the offering free and clear of existing debt.
The first property in the portfolio, Lake Cay Commons, was built in 2008. Located at 9930 Universal Boulevard in Orlando, the shopping center is 56% leased.
Lake Cay Commons is located less than one mile from the 2.1 million-square-foot Orange County Convention Center, the Rosen Shingle Creek Resort, and the University of Central Florida School of Hospitality. The HFF team representing the seller was led by senior managing director Brad Peterson, along with director Luis Castillo.
The second property, The Shoppes at Glen Lakes, is located at 9595 Commercial Way in Weeki Wachee, a northern suburb of Tampa. Also completed in 2008, the property is 76% leased. HFF again represented the seller.
“With the scarcity of Publix-anchored retail properties for sale, it was no surprise that close to 25 offers were received on the properties,” says Peterson. “This portfolio presented a rare opportunity to acquire two high-quality Publix grocery-anchored centers with significant upside in a single transaction.”
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