Plaza Advisors is pleased to announce the sale of the Market at Southside. The 95,057 square foot retail plaza is strategically located in an affluent trade area two miles south of the downtown Orlando Central Business District and Orlando’s dominate medical corridor.
Market at Southside was 87% occupied and is situated at the trade areas primary intersection (66,000 traffic count). The asset is flanked by two shadow grocers; Publix and Walmart Neighborhood Market and includes four major tenants; Ross Dress for Less, K&G Fashion Superstore, Pet Supermarket and Dollar Tree.
SPF Market at Southside, LLC was the seller of the asset. SB Southside, LLC acquired the center. Jim Michalak and of Plaza Advisors represented the seller and was the only broker involved in the transaction.
“Demand for Florida retail product is unprecedented. Supply and demand factors are unbalanced resulting in premium pricing” noted Jim Michalak of Plaza Advisors. “This offering was pursued by numerous investors due to the vacancy upside and the potential redevelopment with an attractive zoning, which allows a dense FAR and the potential to include mid-rise multi-family product”
Plaza Advisors is a real estate brokerage firm that specializes in the disposition of retail properties throughout the Florida. Plaza Advisors’ clients include private equity investors, developers, and major institutions including fund advisors, servicing agents, life insurance companies, REITs, and money center banks.