Auction.com handles sale of Orlando retail center
Unidentified South Florida buyer paid $215 per square foot for Vista Centre Shoppes
November 14, 2015 12:00PM
Vista Center Shoppes in Orlando.
Auction.com, LLC, announced the $21.2 million sale of a retail center near Disney World to an unidentified a South Florida buyer.
Auction.com said the 98,411-square-foot Vista Centre Shoppes sold for $215 per square foot.
The retail center at 8462 Palm Parkway in Orlando, located within walking distance of Disney World, was built in 1989. It consists of seven structures for shops and restaurants. Its occupancy rate at the time of the sale was 89.4 percent.
Auction.com handled the transaction for an Atlanta-based seller, represented by brokerage firm HFF and by the law firm of Newmark Grubb Knight Frank.
In a prepared statement, Auction.com senior vice president of business development Joe Cuomo said retail center’s owner wanted greater marketing exposure of the property and a date-certain closing.
Cuomo also said “the entire process took less than 60 days, including marketing, financing, escrow and closing.”
Source: The Real Deal