Marcus & Millichap Arranges the Sale Of A 78,647-Square-Foot Multi-Tenant Plaza for $7.5M
The buyer, Fourth Atlantic Property Investments, was secured and represented by Salim Valiani, an investment specialist in Marcus & Millichap’s Orlando office.
Edgewood Isle Plaza is located at 5601 S Orange Ave in Orlando, Florida. National tenants include Dollar Tree, Pizza Hut, Pinch-a-Penny, among other retail tenants. The plaza is centrally located in Edgewood, on a signalized corner between two major thoroughfares and within six miles of Universal Orlando Resort, Mall at Millenia, Orlando International Airport, and the downtown area.
“Edgewood Isle Plaza has a little over 30% vacancy, which was an attractive value-add for the buyer. Having successfully turned around other value-add retail plazas, the investor has the vision to upgrade the tenant mix through leasing the vacant units and possibly building on the vacant pad facing Hoffer Avenue,” said Salim.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.