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V3 Capital Group Bags Up Altamonte Springs Retail Center for $24M
V3 Capital Group has completed its $23.5-million acquisition of Wekiva Square, a 175,175-square-foot retail center located at 945 Semoran Boulevard in Altamonte Springs, FL.
Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller, Coro Realty Advisors.
“While the market has been a bit bumpy over the past six months with changes to the economy and interest rates, we are now seeing more capital shift from other asset classes into retail investments,” said Peterson. “We had a very competitive field with 12 offers from today’s leading private investors, which demonstrates how highly sought-after the retail sector is today.”
The property is 99% leased, with 72% of gross leasable area and nearly 59% of revenue at the property derived from national anchors, including Kohl’s, HomeGoods and Dollar Tree. Kohl’s has a separately parceled ground lease and ranks in the top 10% of most visited Kohl’s locations in FL.
- ◦Sale/Acquisition
