11North Partners Pays $60M for Orlando Retail Asset
Bank of America issued an acquisition loan for this transaction.
11North Partners has acquired West Town Corners, a 284,497-square-foot retail center in Altamonte Springs, Fla. Washington Prime Group sold the property for $59.5 million, according to Seminole County public records.
The buyer also secured a $37.4 million acquisition loan from Bank of America. JLL represented the seller.
West Town Corners occupies nearly 29 acres at 150, 280 and 340 S. State Road 434. The retail property is close to Interstate 4, in a corridor that sees 57,500 vehicles per day. Downtown Orlando is 11 miles away.
READ ALSO: Future of High-Street Retail
Completed in 1989 and most recently renovated in 2024, West Town Corners ranks as the 11th most-visited shopping center in the state, according to a JLL leasing brochure. The center serves more than 229,000 residents within a 5-mile radius, with an average household income of $105,200.
The tenant roster at the grocery-anchored asset comprises a mix of fitness, home improvement, grocery and retail companies. Anchors include Winn-Dixie, PetSmart, TJ Maxx and American Signature Furniture.
JLL Capital Markets Senior Managing Director Danny Finkle and Senior Director Jorge Portela negotiated on behalf of the seller.
Building an Orlando collection
11North Partners owns four other retail assets in metro Orlando, according to Yardi Matrix data. They are in Kissimmee, Fla., and total 245,890 square feet. The firm picked them up in 2025 through different transactions, with the highest-priced one being the $53.1 million purchase of Rolling Oaks Commons, a 159,804-square-foot property.
That transaction was part of a $395 million, 10-property portfolio deal closed last year in a joint venture with Bain Capital Real Estate. The acquisition comprised assets in Florida and South Carolina.
Near the end of 2025, 11North and Bain Capital closed on a $1.6 billion capital raise for investing in open-air retail centers across the U.S. and Canada. The proceeds also support the duo’s co-owned operating platform dedicated to such assets.
Orlando’s steady retail investment flow
Investment activity across Orlando’s retail sector remained resilient during the first quarter of 2026, according to a recent report by Cushman & Wakefield. Total sales volume amounted to $1.5 billion over the 12 months that ended in March, marking a nearly 5 percent year-over-year increase. Freestanding retail centers accounted for the most of the sales.
Meanwhile, the overall vacancy stood at 3.9 percent. Rent growth also remained strong as average asking rents reached $31.29 per square foot, representing a 5.1 percent year-over-year increase—the fastest rent growth among Florida’s major retail markets.
Supported by steady consumer spending and a strong tourism base, the metro’s retail inventory is expanding as some notable mixed-use projects are moving forward.
One of them is Westcourt Orlando, a $500 million walkable sports and entertainment district developed by JMA Ventures. The project features a Kimpton hotel, a luxury residential component, 300,000 square feet of office space and a live entertainment venue with a 3,500-people capacity. Site work is already underway adjacent to the Kia Center, home of NBA’s Orlando Magic.
Another one is Ovation, a 670,000-square-foot mixed-use district in Osceola County. Accesso Partners is the developer behind the project which is expected to include retail, dining and entertainment spaces, as well as a hotel. The firm bought the 76-acre site for $70 million in January.
You must be logged in to post a comment.