The seller, who did not wish to be named, was represented byJack Holly, a senior investment associate in the Orlando office ofMarcus & Millichap. The buyer was represented by Craig Thomas,a senior associate in the firm's Jacksonville office. "The selleris a southeast regional REIT that was looking to reposition some ofits assets," Holly tells GlobeSt.com.

The retail center is located at the corner of State Road 436(Senora Boulevard) and Wekiva Spring Road and has 800 feet offrontage on State Road 436, one of the main retail arteries throughOrange and Seminole Counties. It is anchored by a 25,806-sf UnitedArtists Theatre and a 57,860-sf Winn Dixie, and features nationalcredit tenants with triple-net leases, including Fred's,Haircuttery, Blockbuster Video and Curves for Women. It also hastwo outparcel ground leases, Washington Mutual Bank and AmSouthBank. The center was 80% occupied at the time of the sale. "It's anattractive center is a good location, it just needs some tenantwork," Holly says. "The buyer is a large retail owner in Floridaand is a value-add player."

With the acquisition, Woolbright adds to its Orlando retailportfolio. Other properties the company owns are the 208,474-sfWekiva Riverwalk in Apopka, the 231,980-sf Gateway Plaza inSanford, the 100,088-sf Lake Mary Village in Lake Mary, the191,260-sf Oak Grove Shoppes in Altamonte Springs and the 62,577-sfSprings Plaza in Longwood.