North Miami firm sells Orlando-area shopping center for $23.8 million

A North Miami-based firm sold a Publix-anchored neighborhood shopping center in the Orlando area to a Canadian buyer for $23.8 million.

Canada-based Slate Retail REIT paid about $143 per square foot for Good Homes Plaza at 8805-8995 West Colonial Drive in Ocoee, a western suburb of Orlando. Colonial Drive is a major east-west thoroughfare in the Orlando area.

Anchor tenants other than Publix Super Markets at the 165,741-square-foot shopping center include Pet Supermarket and Beall’s Outlet Store. The retail property serves a population of nearly 250,000 within a five-mile radius of its location.

Good Homes Plaza was 96 percent occupied when the sale closed. The seller was IMC Equity Group of North Miami, a commercial real estate company headed by Yoram Izhak.

A four-person team at brokerage firm Avison Young secured the buyer. The team included principal John K. Crotty, senior vice presidents Ray Hayhurst and Steve Tanner, and senior associate Joshua Ladle.