Continental Realty Re-tenants Retail Center to 98%, Sells for $9M
Baltimore, MD-based Continental Realty Corporation has completed the sale of Glenbrook Commons, a 64,707-square-foot fitness-anchored retail center located near Orlando in Clermont, FL. CrossMarc Services purchased the 15.6-acre, 98% occupied asset for $9.4 million.
A JLL team of Brad Peterson and Whitaker Leonhardt handled marketing and sales activities on behalf of CRC.
At the time of CRC’s acquisition of Glenbrook Commons in 2016, the shopping center was 24% occupied. CRC negotiated a lease agreement to backfill the anchor vacancy in 2019 with Fitness CF, which kick-started leasing activity for the remaining center. Small-shop space was leased from 61% to 96% occupancy during CRC’s hold.
CRC also completed the parcelization of an existing outparcel leased to AutoZone and sold the pad site in 2021.
CRC owns and manages a portfolio of retail centers with five million square feet of commercial space and 9,000 apartment homes across 10 states, with a portfolio value exceeding $3 billion.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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