{"id":1004162824,"date":"2016-12-30T06:34:01","date_gmt":"2016-12-30T14:34:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004162824"},"modified":"2020-05-13T22:06:32","modified_gmt":"2020-05-14T06:06:32","slug":"jacksonville-reit-pays-92m-for-orlando-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jacksonville-reit-pays-92m-for-orlando-shopping-center\/","title":{"rendered":"Jacksonville REIT Pays $92M for Orlando Shopping Center"},"content":{"rendered":"<p><em>By Veronica Grecu<\/em><\/p>\n<p><strong><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Plaza-Venezia-Eddie-Vs-Prime-Seafood.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004162825\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jacksonville-reit-pays-92m-for-orlando-shopping-center\/plaza-venezia-eddie-vs-prime-seafood\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Plaza-Venezia-Eddie-Vs-Prime-Seafood.jpg\" data-orig-size=\"1024,556\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Plaza-Venezia-Eddie-V&#8217;s-Prime-Seafood\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Plaza-Venezia-Eddie-Vs-Prime-Seafood.jpg?w=1024\" class=\"alignright size-medium wp-image-1004162825\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Plaza-Venezia-Eddie-Vs-Prime-Seafood.jpg\" alt=\"Plaza-Venezia-Eddie-V's-Prime-Seafood\" width=\"300\" height=\"163\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Plaza-Venezia-Eddie-Vs-Prime-Seafood.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Plaza-Venezia-Eddie-Vs-Prime-Seafood.jpg?resize=300,163 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Plaza-Venezia-Eddie-Vs-Prime-Seafood.jpg?resize=768,417 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Orlando, Fla.<\/strong>\u2014Plaza Venezia, one of Florida\u2019s top shopping destinations, was recently sold in a $92.5 million deal, according to the <em><a href=\"https:\/\/www.bizjournals.com\/orlando\/news\/2016\/12\/22\/plaza-venezia-sales-price-revealed-92-5m.html\" rel=\"nofollow\" target=\"_blank\">Orlando Business Journal<\/a><\/em>.<\/p>\n<p>The 201,808-square-foot open-air shopping center was purchased by Jacksonville-based Regency Centers Corp. and an unnamed co-investment partner. The seller, TH Real Estate, a division of TIAA Global Asset Management, was represented in the transaction by CBRE\u2019s Casey Rosen and Dennis Carson.<\/p>\n<p>Located at 7640 Sand Lake Road, between downtown Orlando, Walt Disney World, Universal Studios and Orlando International Airport, Plaza Venezia encompasses 27 acres of land and five outparcels. The property is currently 95 percent occupied by anchor tenant grocer Publix and restaurants including Bonefish Grill, Eddie V\u2019s Prime Seafood, Rocco\u2019s Tacos and Seasons 52.<\/p>\n<p>\u201cThe existing high-profile tenants are highly successful and help make this a truly unique investment opportunity with significant future cash flow growth,\u201d said Casey Rosen, Executive Vice President, CBRE Capital Markets.<\/p>\n<p>Offering over 2,300 square feet of frontage on Sand Lake Road, Plaza Venezia anchors Orlando\u2019s strongest restaurant concentration, which serves over 66 million visitors per year, with an overall 96 percent occupancy in the area and an average asking rent of 45 per square foot\u2014the highest in the region in recent years. In fact, according to a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-new-supply-sweeps-orlando-2\/\" target=\"_blank\">Yardi Matrix market report<\/a>, Orlando is one of the country\u2019s fastest-growing metros, with a thriving hospitality industry rowing technology sector, and stout development and transaction activity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBRE arranged the sale of the Publix-anchored retail complex on Restaurant Row corridor.<\/p>\n","protected":false},"author":258,"featured_media":1004162825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742,1493],"tags":[32789,33003],"class_list":["post-1004162824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-latest","category-orlando","tag-cbre","tag-regency-centers-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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