Florida & Gulf Coast + Central Florida + Retail | August 1, 2022

Limestone Asset Management has purchased the Millenia Plaza retail center in Orlando, FL for $74.1 million.

Limestone Rocks Orlando’s Mall at Millenia Area with $74M Outparcel Buy

Miami, FL-based Limestone Asset Management has purchased the 411,503-square-foot Millenia Plaza retail center in Orlando, FL for $74.1 million.

Kevin Sanz of Orion Real Estate Group represented the buyer. Brad Peterson and Whitaker Leonhardt of JLL represented the seller, Millenia Plaza LLC. Ocean Bank is providing financing.

Millenia Plaza currently has 11 tenants, including The Home Depot, BJ’s Wholesale Club and Dick’s Sporting Goods.

According to the company, Limestone Asset Management is the second largest owner of real estate in the Mall at Millenia area considering its purchase of seven single-tenant parcels in 2020 for $22.7 million and two outparcels in 2021 for $10.4 million.

“We are excited to acquire this valuable property in the most visited city in the US,” said Ibrahim Al-Rashid, chairman of Limestone Asset Management. “This purchase not only adds to our portfolio of properties around the Mall at Millenia, but it shows our commitment to the Orlando area.”

Photo courtesy Limestone Asset Management

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About Lisa McDuffie

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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