CH Enterprises LLC sold the 99%-occupied property on Apopka-Vineland Road to Shoppes at Lake Avenue Inc. Both are Central Florida-based companies. The deal was crafted by Susan Lawrence just one month after she resigned her vice president's position at locally based Xentury City Development Co. Lawrence, a longtime California and Orlando broker, is president and CEO of newly formed Real Estate Strategies Inc.

"Two factors account for the high value," Lawrence tells GlobeSt.com. "First, the land is very expensive in that area. Secondly, retail tenants have to pay higher than normal rents ($20 to $30 per sf net) because of the heavy [tourist] traffic and the exposure to timeshare units, hotels and tourists."