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ORLANDO-Watkins Retail Group of Atlanta received top dollar in the $12.8-million sale of its two-year-old, 78,179-sf Riverside Landings shopping center in suburban Oviedo, FL. An undisclosed private buyer paid $163.72 per sf for the 100%-leased property. The Orlando office of Advantis Real Estate Services Co./GVA negotiated for Watkins.

“The property was never actively marketed for sale and was sold as part of a 1031 exchange,” says Brad Luger, executive director of Advantis/GVA’s Central Florida investment services group. “The entire transaction took place within 30 days.”

Larry Randolph, senior director in the group, worked with Luger on the deal. “Because of the necessity to close quickly, all parties were focused and the transaction went smoothly,” without any special challenges to overcome before closing, says Randolph. Luger and Randolph have jointly closed about $136 million in 2004 sales transactions to date.

Jim Michalak of the Tampa office of Cushman & Wakefield of Florida Inc. represented the buyer. “The buyer is a very low-key, private capital investor and prefers to remain anonymous,” Michalak tells

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