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Ross Realty Investments Secures $13M Power Plaza in Mount Dora
JLL has closed the $12.5-million sale of Tri-Cities Shopping Plaza, a 76,172-square-foot, investment-grade power center anchored by a category-leading lineup of national tenants in Mount Dora, FL.
Brad Peterson and Whitaker Leonhardt of JLL represented the seller, SunCap Opportunity Fund, LLC. Ross Realty Investments, Inc., acquired the asset.
“The amount of residential growth we are experiencing in Central FL is unprecedented and with the nearly complete absence of new retail construction, well-located retail centers will continue to thrive,” said Leonhardt.
Tri-Cities Shopping Plaza is 96.2% leased. It is anchored by a roster led by Ross Dress for Less, T.J.Maxx and Dollar Tree. The center is shadow anchored by Hobby Lobby.
The 12.4-acre Tri-Cities Shopping Plaza is within a main retail hub in Mount Dora, which is approximately 25 miles from downtown Orlando. According to JLL the center is surrounded by a booming retiree population comprising 42.4%, nearly 50% greater than the Orlando MSA average.
