Florida & Gulf Coast + Central Florida + Retail | May 19, 2021

Limestone Adds Two Outparcels Around Orlando’s Mall of Millenia

Miami-based Limestone Asset Management closed on two outparcels, totaling 14,075 square feet, around Orlando’s popular Mall at Millenia for $10.4 million. The purchase adds to Limestone ’s late- 2020, $22.7-million purchase of seven single-tenant outparcels at Mall at Millenia, bring its total assemblage of outparcels around the mall to 118,263 square feet.

One outparcel includes a 5,530-square-foot AT&T store, while the second one includes a 5,045-square-foot Panera Bread and a 3,500-square-foot Shake Shack. Kevin Sanz, president of Orion Real Estate Group, represented Limestone in the purchase.

The undisclosed seller of Panera Bread and Shake Shack brought this off-market deal directly to Orion before marketing it. Patrick Luther of SRS represented the undisclosed seller of the AT&T store.

“Orlando is already one of the most visited cities in the world, and with continued reopening, we anticipate Orlando will return to its high growth trajectory,” said Limestone chairman Ibrahim Al-Rashid.

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Limestone’s Al-Rashid

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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