An affiliate of Miami-based Core Investment Management, a real estate investment firm, announces the acquisition of The Shoppes of South Semoran in Orlando, FL
ORLANDO, FL, USA, September 14, 2020 /EINPresswire.com/ — Contact Name: Adam Greenberg
Contact Title: Managing Principal
Contact Phone: 305-710-6741
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FOR IMMEDIATE RELEASE
CORE Acquires Walmart-Anchored Retail Center In Orlando, FL
ORLANDO, FL – An affiliate of Miami-based Core Investment Management, a privately owned, retail-focused, real estate investment firm announces the acquisition of The Shoppes of South Semoran, located in Orlando, Florida. The 101,611 sq. ft. retail center with tenants including Walmart Neighborhood Market, JPMorgan Chase, Dollar Tree and Wendy’s was purchased from an affiliate of Weingarten Realty advised by TSCG investment sales team led by Anthony Blanco.
The location, tenancy and exposure of this retail center provides a strong competitive advantage along South Semoran Boulevard and Pershing Avenue. The Shoppes of South Semoran were built in 1986 and renovated in 2013 with the opening of the Walmart Neighborhood Market. The property was 97% leased at the time of sale and Walmart’s store remains one of the best performing locations in the entire submarket.
The Shoppes of South Semoran remains fully occupied through Covid-19, illustrating it’s continued resiliency. Adam Greenberg of Core said about the matter, “Our team was incredibly happy working with Weingarten and TSCG in completing this transaction. The property fundamentals remain incredibly strong through the pandemic with Walmart being the 4th most visited grocer within a ten-mile radius.” CPG Leasing will manage the leasing at the property for the new owners. With this acquisition, Core has expanded their footprint in Florida and remained highly focused on value-add retail opportunities with an excellent growth story through active management.
About CORE and Its Affiliate Companies:
CORE is a private investor of primarily value-add retail and office properties located in primary and secondary MSA markets of Florida and the Southeastern United States. CORE and its principals own and actively manage approximately 1,500,000 SF of properties throughout the region and target experience-oriented properties with existing cash flow and upside potential through active management. Additionally, Core has investments in technology, management and other ancillary Real Estate ventures. CORE and principals have over 40 years of combined experience in executing their value-add business plans.
For more information, visit coreipf.com
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Source: EIN Presswire