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Phillips Edison Acquires Lake Mary Retail Center
A Seminole County shopping center along one of the region’s busy commercial corridors has traded hands for $26.1 million. Phillips Edison & Co. bought Shoppes of Lake Mary from Nuveen Real Estate.
The 74,234-square-foot retail property sits on a little over 10 acres at 4215 W. Lake Mary Blvd.
A Publix Super Market and a Target are anchor tenants at the center but were not included in the deal. The Orlando Business Journal reports Shoppes of Lake Mary was 97% leased at the time of sale. It includes three outparcel tenants — a Gator’s Dockside restaurant, PNC Bank and Jeremiah’s Italian Ice — as well as in-line tenants such as home goods and furniture retailer Homesense, Don Julio Mexican Kitchen, Huey Magoo’s Chicken Tenders, Keke’s Breakfast Cafe and SoFresh, a health food restaurant serving bowls, smoothies, wraps and other items.
Seminole County records show the property, which was built in 2000, last sold for $12.5 million in 2002.
- ◦Sale/Acquisition
