Why This Retail Center Got 20 Offers

ORLANDO—Southcase Village, a 229,410-square-foot, grocery-anchored community shopping center in Orlando, has traded hands. Equus Capital Partners sold the retail center to Viking Partners for $21.07 million.

HFF senior managing director Brad Peterson and associate director Whitaker Leonhardt led the charge. The transaction was free and clear of existing debt.

“With all of the impressive dynamics taking place in Orlando, from the nation-leading employment growth to the billions being spent on infrastructure improvements to the diversification and evolution of the local economy, investors continue to demand real estate opportunities in central Florida,” Leonhardt tells GlobeSt.com. ALDI, Bealls Outlet, Ross Dress for Less, Fallas Paredes, Planet Fitness, Tuesday Morning, and a seven-screen Touchstar Cinemas anchor the complex.

“Southchase Village is uniquely positioned within close proximity to Orlando's largest employers, tourism traffic generators, international airport, and network of interstates and as a result is one of the fastest-growing residential submarkets in central Florida,” Leonhardt says. “Given the unique value-add and re-positioning opportunity, investors were jumping at the opportunity to acquire Southchase Village.”   

Located at 12381 South Orange Blossom Trail (US 441), Southchase Village is at the 14-lane signalized intersection of US 441 and Wetherbee Road with combined traffic counts of more than 70,500 vehicles per day. The center sits in the heart of one of Orlando's highest growth submarkets and is near the area's largest employers, including the Orange County Convention Center, Darden Restaurants and Tupperware Brands.

“The Orlando shopping center environment continues to see improvements in fundamentals and attract a wide variety of investors,” says Leonhardt.  “Southchase Village is a great example of investor interest in value-add opportunities in Orlando, evidenced by the fact that HFF was able to generate more than 20 offers on this shopping center.  The combination of high traffic counts, strong tenant mix and explosive residential and employment growth helped facilitate a successful transaction for all parties.”