Mar
30
TSCG Arranges Sale of Orlando Regional Shopping Center
ByAn affiliate of Charlotte-based Gemini Real Estate Advisors purchased the LA Fitness–anchored asset for $16 million.
Orlando, Fla.—The Shopping Center Group (TSGC) recently announced the sale of Town Center Shoppes, a 64,500-square-foot shopping center in one of Orlando’s most popular submarkets. A private entity purchased the property for $16 million. TSGC worked on behalf of the seller, an affiliate of Gemini Real Estate Advisors.
Located about 2 miles east of Orlando’s Eastern Beltway, adjacent to Oveido on the Park, the shopping center is at the intersection of W. Mitchell Hammock Road and S. Central Avenue. Anchored by a 44,000-square-foot LA Fitness that recently extended its lease for 15 years, Town Center Shoppes was 95 percent leased at the time of sale. Delmonico’s Steakhouse is slated to replace Outback Steakhouse…
