The Real Deal Miami

Phillips Edison buys Orlando-area retail plaza for $24.87 million

The Dallas-based company paid about $215 per square foot for Winter Springs Town Square
November 12, 2017 10:00AM

Winter Springs Town Square

An Orlando-area retail plaza anchored by a Publix supermarket sold for $24.87 million, or about $215 per square foot.

The new owner is Dallas-based Phillips Edison & Company, a leading owner and operator of shopping centers anchored by supermarkets.

Phillips Edison acquired the Winter Springs Town Center, a two-story, 115,767-square-foot retail plaza in Winter Springs, a northern suburb of Orlando.

In addition to Publix, tenants of the retail plaza at 1160 East State Route 434 include Edward Jones, GNC, Great Clips, Quest Diagnostics, Subway, UPS and Zoo Health Club.

The Winter Springs retail property “serves as the de facto downtown for the community,” David Wik, senior vice president of acquisitions at Phillips Edison, said in a prepared statement.

John Bell, managing director of brokerage firm Transwestern, marketed Winter Springs Town Square and represented the seller, an unidentified Dallas-based group. — Mike Seemuth