ORLANDO—Oakley Square Shopping Center, a 30,214 square-foot retail strip located in the Orlando suburb of Clermont, has a new owner. The retail center sold for $7.5 million.

Marcus & Millichap vice president of Investments Ronnie Issenberg, associate vice president of Investments Gabriel Britti, senior associate Jonathan Gerszberg, and associate Roee E. Ben-Moshe, all based in the firm’s Miami office, had the exclusive listing to market the property on behalf of the seller. The seller was an investment fund based in Bay Harbor Islands, FL.  

“We received a lot of interest in this property as the property was beautifully constructed, with a stable roster of excellent tenants,” Issenberg says. “As an outparcel to Lowe’s, and with numerous new developments in the immediate area, the buyer felt confident he could lease the vacant space and realize a substantial value-add.”

Oakley Square Shopping Center is located at 1500 Oakley Seaver Drive in Clermont, FL. The shopping center sits at the signalized intersection of Highway 50 and Oakley Seaver Drive.

Tenants include AT&T, Firehouse Subs, The Vitamin Shoppe, Mattress One, Robata Japanese Steakhouse, CFE Credit Union, Key Heath Pharmacy, and Massage Envy. Issenberg, Britti and Ben-Moshe secured and represented the buyer, limited liability company from Miami.