Ohio Investor Ticks off Target Market
- Oct 09, 2015
Ohio-based Viking Partners has entered Florida, one of its target markets, through the acquisition of a 229,410-square-foot retail asset. Called Southchase Village, the grocery-anchored shopping center is located at 12381 S Orange Blossom Trail in Orlando.
HFF brokered the property’s $21.07 million sale on behalf of its previous owner, Equus Capital Partners. The investment sales team was led by Senior Managing Director Brad Peterson and Associate Director Whitaker Leonhardt. Viking Partners purchased the asset free and clear of existing debt.
Located at the 14-lane signalized intersection of U.S. Route 441 and Wetherbee Road, Southchase Village benefits from a traffic of more than 70,500 vehicles per day. The center is also situated in one of Orlando’s highest growth submarkets, providing easy access to the area’s largest employers, including the Orange County Convention Center, Darden Restaurants and Tupperware Brands. The property is anchored by ALDI, Bealls Outlet, Ross Dress for Less, Fallas Paredes, Planet Fitness, Tuesday Morning, and a seven-screen Touchstar Cinemas.
Southchase Village marks the first retail asset in Viking Partners’ Florida portfolio. Since the company was founded in 1991, its principals have invested in more than 100 commercial real estate projects totaling over four million square feet and valued at more than $500 million. Viking Partners is currently seeking to expand in the Midwest and Southeast with a transaction range of $2 million to $50 million.
Photo credit: HFF