The Real Deal Miami

Orlando shopping center near Universal Studios expansion site sells for $16.6M

Built in 1999 and remodeled in 2005, Sand Lake Corners North was 95.3 percent occupied at the time of the sale for $109 per square foot
November 04, 2018 02:45PM

John Bell of Transwestern

Listed for sale last year, a community shopping center in Orlando just sold for $16.6 million, according to brokerage firm Transwestern.

The sale price for the Sand Lake Corners North shopping center equated to about $109 per square foot. Houston-based Transwestern identified neither the buyer or the seller of the Orlando property.

John Bell, a Miami-based managing director of Transwestern, represented the unidentified seller. Bell got the listing for the 151,487-square-foot shopping center in May 2017.

Built in 1999 and remodeled in 2005, Sand Lake Corners North had a 95.3 percent occupancy rate at the time of the sale. The shopping center’s tenants include Dollar Tree, PetSmart and Old Time Pottery.

Walmart and Lowe’s Home Improvement Warehouse are “shadow anchors” of Sand Lake Corners North with stores near the shopping center.

Sand Lake Corners North is a 15-acre property at 8115-8379 South John Young Parkway, near a 474-acre site where theme park operator Universal Studios plans to expand. – Mike Seemuth