TSCG Arranges $18M Sale of Orlando Walmart Asset
- Sep 16, 2020
TSCG has brokered the $18 million sale of The Shoppes of South Semoran, a 102,000-square-foot retail property in Orlando, Fla. Anthony Blanco, Lenard Williams, Mallory Silva and Gavin Walsh negotiated on behalf of the seller, Weingarten Realty.
A private entity affiliated with Core Investment Management acquired the Walmart-anchored shopping center, which was 97 percent leased at the time of closing. Professional Bank originated a $10.8 million acquisition loan, according to public records. The asset last traded in 2007, when Stoltz Real Estate Partners sold it for $14.5 million.
Located on 11 acres at 4520 S. Semoran Blvd., the property opened its doors in 1986 and was renovated in 2013, when Walmart Neighborhood Market started operating at the site. More than 75 percent of the gross leasable area is occupied by Walmart, Chase Bank, Dollar Tree and Wendy’s.
The shopping destination is situated along South Semoran Boulevard, which has a daily traffic of 65,000 vehicles, according to TSCG’s Blanco. There are at least 2 other Walmart stores within 3 miles of the property. Additionally, the site is 8 miles southeast of downtown Orlando.
In June, Blanco led another TSCG team which arranged the $7.1 million sale of The Shops at Christenbury, an 11,350-square-foot retail property in Concord, N.C. The brokerage company represented the seller, Thompson Thrift Development, while Marcus & Millichap assisted the buyer, Deville Developments.