The owner of a 151,487-square-foot shopping center in Orlando listed the property for sale with real estate brokerage firm Transwestern.
The Sand Lake Corners North community shopping center has a 92.6 percent occupancy rate and a group of tenants including Dollar Tree, Old Time Pottery and PetSmart.
Sand Lake also has “shadow” anchors that are not part of the shopping center but draw traffic to its vicinity: a Wal-Mart Supercenter and a Lowe’s Home Improvement Store.
Sand Lake also benefits from consumer traffic at stores and restaurants on “shadow” outparcels, occupied by such companies as 7-Eleven, Burger King, Denny’s, Dunkin’ Donuts. Goodyear Tire, McDonald’s, Speedway, and Wendy’s.
Built in 1999 and remodeled in 2005, Sand Lake spans more than 15 acres at 8115-8379 South John Young Parkway, near a 474-acre site where the Universal Orlando resort plans to expand.
“The property stands squarely at the gateway to this important site, and can expect value increases beyond its existing successful shopping center economics,” John Bell, a managing director of Houston-based Transwestern, said in a prepared statement.