Community Shopping Center Lands New Owner in O-Town

By Robert Demeter

Phase II of Goldenrod Marketplace

Orlando—IRC Retail Centers, a real estate company that owns and operates value-based retail centers in select markets within the Central and Southeastern U.S, has acquired Phase II of Goldenrod Marketplace, a community shopping center located in Orlando.

Goldenrod Marketplace Phase II comprises approximately 33,140 square feet of in-line retail space that is nearly fully leased to Dollar Tree, Great Clips, Lucky Me, Payless Shoes, Rue 21 and Sally Beauty. The sale price was $6 million.

In December 2013, IRC acquired Goldenrod Marketplace Phase I, which totals roughly 97,500 square feet of retail space. The center includes 64,000 square feet leased to anchor tenants Marshalls and L.A. Fitness, two multi-tenant outbuildings totaling 27,500 square feet that feature retailers and service providers, and two outparcel buildings totaling 6,000 square feet that are ground leased to Taco Bell and KFC.

In total, Goldenrod Marketplace aggregates a gross leasable area of approximately 130,640 square feet, including ground leases. The center is 94.7 percent occupied, and it is shadow-anchored by a 207,000-square-foot Walmart Supercenter.

“We are pleased to complete our acquisition of Goldenrod Marketplace, which is well-located in a top U.S. market and showcases a diverse mix of tenants offering everyday goods and services,” Scott Carr, executive vice president & CIO for IRC Retail Centers, said in prepared remarks.

The Goldenrod Marketplace shopping center is situated in Orlando’s southeastern market at the intersection of Narcoossee and Goldenrod Roads.

Photo courtesy of IRC Retail Centers