{"id":1004173718,"date":"2017-04-21T00:03:05","date_gmt":"2017-04-21T08:03:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004173718"},"modified":"2022-12-06T23:45:26","modified_gmt":"2022-12-07T07:45:26","slug":"highly-coveted-orlando-mall-hits-the-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/highly-coveted-orlando-mall-hits-the-market\/","title":{"rendered":"Highly Coveted Orlando Mall Hits the Market"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

Transwestern has been retained to sell Sand Lake Corners North, a 151,487-square-foot, Class A community shopping center in Orlando.<\/p>\n

\"Sand<\/a>

Sand Lake Corners North in Orlando<\/p><\/div>\n

The property, shadow-anchored by Wal-Mart, is located at 8115 \u2013 8379 S. John Young Parkway in the area\u2019s tourist corridor.<\/p>\n

\u201cThe property offers extremely stable and predictable cash flow while potential exponential value upside once the Universal Studios\u2019 site is developed,\u201d <\/em>John Bell, Transwestern\u2019s managing director, told Commercial Property Executive. \u201cThe entire tourist corridor is evolving into a retail hub of Orlando for locals and growing tourist base.\u201d<\/em><\/p>\n

The community shopping center is currently 92.6 percent occupied with a majority of long-term leases from long-standing tenants. The site is embedded within Orlando\u2019s greatest concentration of Class A office and distribution parks, SouthPark Center, which boasts 2.9 million square feet of office space spanning 176 acres.<\/p>\n

According to Bell, the property is highly coveted as there\u2019s not often space like this available in the market. The asset offers extremely attractive cash-on-cash returns due to favorable in-place financing as average rents for retail space in Orlando\u2019s Tourist Corridor peaked 7.4 percent higher in the last cycle than today\u2019s rents.<\/p>\n

\u201cIt\u2019s a gateway to the new Universal expansion site, which will transform the area upon development,\u201d <\/em>Bell said. \u201cCurrently, it\u2019s at the high presence corner of one of the tourist corridors most heavily traveled intersections and future rent growth is anticipated.\u201d<\/em><\/p>\n

Originally constructed in 1999 and remodeled in 2005, Sand Lake Corners North is anchored by Old Time Pottery, PetSmart and Dollar Tree, with shadow anchors Wal-Mart Supercenter and Lowe\u2019s Home Improvement Store. There\u2019s also 11 shadow outparcels including 7-Eleven, Burger King, Goodyear Tire, Denny\u2019s, Bead Time, McDonald\u2019s, Discount Tire Co., Logan\u2019s Roadhouse, Wendy\u2019s, Dunkin\u2019 Donuts, Five Guys and Speedway.<\/p>\n

Sand Lake Corners North is ideally located at the doorstep of Universal Studio\u2019s 474-acre expansion site that will inevitably be developed with entertainment and lodging, creating explosive employment drivers and growth to spike values for nearby properties.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sand Lake Corners North, shadow-anchored by Wal-Mart, is currently 92 percent occupied, with a majority of long-term leases from longstanding tenants.<\/p>\n","protected":false},"author":451,"featured_media":1004173721,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1576,21808,21742,1493,21749],"tags":[33313],"class_list":["post-1004173718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cities","category-featured","category-latest","category-orlando","category-retail","tag-transwestern"],"acf":[],"yoast_head":"\nHighly Coveted Orlando Mall Hits the Market - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/highly-coveted-orlando-mall-hits-the-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Highly Coveted Orlando Mall Hits the Market\" \/>\n<meta property=\"og:description\" content=\"Sand Lake Corners North, shadow-anchored by Wal-Mart, is currently 92 percent occupied, with a majority of long-term leases from longstanding tenants.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/highly-coveted-orlando-mall-hits-the-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-21T08:03:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T07:45:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Sand-Lake-Corners-North-in-Orlando.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/highly-coveted-orlando-mall-hits-the-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/highly-coveted-orlando-mall-hits-the-market\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"Highly Coveted Orlando Mall Hits the Market\",\"datePublished\":\"2017-04-21T08:03:05+00:00\",\"dateModified\":\"2022-12-07T07:45:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/highly-coveted-orlando-mall-hits-the-market\\\/\"},\"wordCount\":353,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/highly-coveted-orlando-mall-hits-the-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/04\\\/Sand-Lake-Corners-North-in-Orlando.jpg\",\"keywords\":[\"Transwestern\"],\"articleSection\":[\"Cities\",\"Featured\",\"News\",\"Orlando\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/highly-coveted-orlando-mall-hits-the-market\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/highly-coveted-orlando-mall-hits-the-market\\\/\",\"name\":\"Highly Coveted Orlando Mall Hits the Market - 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