Kissimmee Shopping Center Changes Ownership
- Oct 23, 2019
Marcus & Millichap has brokered the sale of Holiday Trail Plaza, a 24,635-square-foot strip retail center in Kissimmee, Fla. According to Osceola County records, Hickman Properties LLC sold the Class B asset to Engend Co. III LLC for roughly $5.8 million, or about $235 per square foot. The property last traded in 2005 for $7.4 million, public records show.
The retail center sits on more than 2 acres at 5877 W. Irlo Bronson Memorial Highway in the Old Town Kissimmee area. The property is right next to Central Florida GreeneWay and less than 2 miles west of Interstate 4. The area’s retail offering also includes Publix, Waffle House and Walgreens. The 1998-completed property was fully leased at the time of sale, with a tenant roster that features New Balance and Dunkin’ Donuts.
Marcus & Millichap Vice President Scott Gould and Senior Vice President of investments Tim Giambrone with the company’s National Retail Group brokered the deal. In June, Giambrone was also instrumental in the $11 million sale of a retail asset in Haines City, Fla.