Suburban Orlando Retail Center Trades for $26M

Osceola Village. Image via Google Street View

East Coast Acquisitions has acquired Osceola Village, a 122,845-square-foot, Publix-anchored retail center in Kissimmee, Fla., from an affiliate of Glenborough LLC. JLL Capital Markets brokered the $26.3 million transaction, which included three adjacent retail pad sites.

The property is located at 3040 Dyer Blvd. in northern Kissimmee, 17 miles south of central Orlando. The 20.3-acre site is part of a prominent retail cluster adjacent to U.S. Route 17, 6 miles east of Disney World. More than 87,000 people reside within 3 miles of the asset.

Built in 2008, the shopping center was 82.4 percent leased at the time of the transaction. In addition to the anchor, the property’s tenants include DaVita, Orlando Health and Visionworks.

Senior Managing Director Brad Peterson, Senior Director Whitaker Leonhardt and Associate Tommy Isola made up the JLL team representing the seller.

Earlier this year, another Publix-anchored shopping center changed hands for nearly $10 million. The 67,000-square-foot Tampa Bay property sold in a 1031 exchange.