by Roberto Susi on July 20, 2021
TCB-WCO purchased West Colonial Oaks, a multi-anchored neighborhood center totaling 160,792 square feet in Orlando, FL for $17 Million. This acquisition represents an opportunity for the purchaser to own a highly occupied shopping center with national anchor tenants, strong in-place income and the potential to value-add through lease up at market rate(s). The property is anchored by Office Depot, Family Dollar, Olive Garden and Ollie’s Bargain Discount Store and it is also a beneficiary of a Home Depot shadow anchor. In addition to the diverse tenant mix, strong in place income and high occupancy, WCO is located within a high growth neighborhood with strong demographic trends.
“Given the excellent location with high traffic counts along Colonial Drive, a major east/west corridor leading to Downtown Orlando, the purchaser should have no issue getting the vacant bays leased-up” states Jose Sasson of Axiom Capital Advisors.
Jose Sasson of Axiom Capital Advisors represented the seller in the off-market transaction and Michael Smith of Sands Investment Group represented the buyer.